Bank of Montreal Can Increases Stake in Bright Horizons Family Solutions Inc (BFAM)

Bank of Montreal Can lifted its position in Bright Horizons Family Solutions Inc (NYSE:BFAM) by 5.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,473 shares of the company’s stock after acquiring an additional 1,903 shares during the period. Bank of Montreal Can owned 0.07% of Bright Horizons Family Solutions worth $4,890,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BFAM. Cooper Haims Advisors LLC purchased a new position in Bright Horizons Family Solutions during the first quarter valued at $364,000. Ellis Investment Partners LLC purchased a new position in shares of Bright Horizons Family Solutions in the first quarter valued at about $86,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Bright Horizons Family Solutions in the first quarter valued at about $328,000. Brinker Capital Inc. lifted its position in shares of Bright Horizons Family Solutions by 6.8% in the first quarter. Brinker Capital Inc. now owns 16,305 shares of the company’s stock valued at $2,073,000 after acquiring an additional 1,044 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Bright Horizons Family Solutions in the first quarter valued at about $696,000. 97.87% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman David H. Lissy sold 37,673 shares of Bright Horizons Family Solutions stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $124.68, for a total value of $4,697,069.64. Following the sale, the chairman now directly owns 325,995 shares of the company’s stock, valued at $40,645,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mandy Berman sold 5,294 shares of Bright Horizons Family Solutions stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $119.70, for a total value of $633,691.80. Following the completion of the sale, the chief accounting officer now directly owns 22,768 shares in the company, valued at $2,725,329.60. The disclosure for this sale can be found here. Insiders sold 76,216 shares of company stock worth $9,469,461 over the last ninety days. Insiders own 1.90% of the company’s stock.

Shares of Bright Horizons Family Solutions stock opened at $132.27 on Friday. Bright Horizons Family Solutions Inc has a 52 week low of $97.64 and a 52 week high of $132.79. The stock has a market capitalization of $7.68 billion, a PE ratio of 43.65, a price-to-earnings-growth ratio of 3.65 and a beta of 0.33. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.33.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Bright Horizons Family Solutions had a return on equity of 23.89% and a net margin of 8.38%. The business had revenue of $501.76 million for the quarter, compared to the consensus estimate of $497.24 million. During the same period in the previous year, the business earned $0.72 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Bright Horizons Family Solutions Inc will post 3.39 EPS for the current fiscal year.

Several brokerages have recently commented on BFAM. Citigroup boosted their price objective on Bright Horizons Family Solutions from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. ValuEngine upgraded Bright Horizons Family Solutions from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. BMO Capital Markets boosted their price objective on Bright Horizons Family Solutions from $120.00 to $122.00 and gave the company a “market perform” rating in a research report on Wednesday, February 13th. Bank of America restated a “neutral” rating and issued a $123.00 price objective (up from $115.00) on shares of Bright Horizons Family Solutions in a research report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $146.00 price objective on the stock in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $127.00.

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Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides child care and early education, back-up care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory Services. The Full Service Center-Based Child Care segment offers traditional center-based child care, preschool, and elementary education services.

Further Reading: How do analysts define an oversold condition?

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Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

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