Brightcove (NASDAQ:BCOV) Rating Lowered to Hold at StockNews.com

Brightcove (NASDAQ:BCOVGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $2.22 on Monday. Brightcove has a 52-week low of $2.10 and a 52-week high of $7.39. The company has a market capitalization of $96.50 million, a P/E ratio of -3.64 and a beta of 0.72. The company has a 50-day simple moving average of $2.43 and a 200 day simple moving average of $3.02.

Hedge Funds Weigh In On Brightcove

Institutional investors and hedge funds have recently modified their holdings of the stock. Keel Point LLC bought a new position in shares of Brightcove in the fourth quarter worth about $34,000. Mackenzie Financial Corp grew its holdings in shares of Brightcove by 55.3% during the fourth quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock worth $60,000 after purchasing an additional 8,186 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new position in shares of Brightcove during the fourth quarter valued at $27,000. SG Americas Securities LLC increased its holdings in Brightcove by 32.0% in the fourth quarter. SG Americas Securities LLC now owns 25,612 shares of the software maker’s stock valued at $66,000 after purchasing an additional 6,210 shares during the period. Finally, 17 Capital Partners LLC bought a new position in Brightcove during the 4th quarter worth $36,000. 85.68% of the stock is currently owned by institutional investors and hedge funds.

Brightcove Company Profile

(Get Free Report)

Brightcove Inc provides cloud-based streaming services. Its flagship product includes Video Cloud, an online video streaming platform that enables its customers to distribute high-quality video to internet-connected devices. The company also offers Brightcove Live, a solution for live streaming; Brightcove Beacon, an application that enables companies to launch over-the-top video experiences of multiple monetization models; Brightcove Player, a cloud-based technology for creating and managing video experiences; Zencoder, a cloud-based video encoding technology; and Brightcove Audience Insights, a business intelligence platform that provides actionable intelligence on viewers and subscribers.

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