StockNews.com Initiates Coverage on Brightcove (NASDAQ:BCOV)

Stock analysts at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a report released on Saturday. The brokerage set a “buy” rating on the software maker’s stock.

Brightcove Price Performance

Brightcove stock opened at $4.45 on Friday. The firm has a 50 day moving average price of $4.45 and a 200-day moving average price of $4.08. Brightcove has a twelve month low of $1.76 and a twelve month high of $4.46. The company has a market capitalization of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01.

Institutional Trading of Brightcove

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock valued at $1,055,000 after acquiring an additional 37,584 shares during the period. JPMorgan Chase & Co. raised its position in shares of Brightcove by 99.3% in the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after purchasing an additional 15,291 shares during the period. R Squared Ltd purchased a new stake in shares of Brightcove during the 4th quarter valued at approximately $90,000. ABC Arbitrage SA bought a new position in Brightcove in the 4th quarter worth approximately $1,038,000. Finally, AMH Equity Ltd grew its stake in Brightcove by 1.5% in the 4th quarter. AMH Equity Ltd now owns 507,513 shares of the software maker’s stock valued at $2,208,000 after buying an additional 7,513 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.