BlackRock Inc. increased its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 73,144.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,743,023 shares of the company’s stock after buying an additional 2,739,278 shares during the period. BlackRock Inc.’s holdings in Bright Horizons Family Solutions were worth $198,843,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Bright Horizons Family Solutions during the fourth quarter valued at $886,000. Comerica Bank acquired a new position in Bright Horizons Family Solutions during the fourth quarter worth $232,000. GSA Capital Partners LLP acquired a new position in Bright Horizons Family Solutions during the fourth quarter worth $220,000. Norges Bank acquired a new position in Bright Horizons Family Solutions during the fourth quarter worth $23,478,000. Finally, Teachers Advisors LLC raised its position in Bright Horizons Family Solutions by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 77,584 shares of the company’s stock worth $5,432,000 after buying an additional 1,892 shares during the last quarter. 99.33% of the stock is currently owned by hedge funds and other institutional investors.
Bright Horizons Family Solutions Inc. (NYSE BFAM) opened at 79.30 on Wednesday. The company’s 50 day moving average price is $77.16 and its 200-day moving average price is $73.34. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 43.38 and a beta of 0.12. Bright Horizons Family Solutions Inc. has a 12-month low of $59.00 and a 12-month high of $81.23.
Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $422 million during the quarter, compared to the consensus estimate of $422.32 million. Bright Horizons Family Solutions had a return on equity of 18.51% and a net margin of 6.93%. Bright Horizons Family Solutions’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that Bright Horizons Family Solutions Inc. will post $2.61 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on BFAM shares. Zacks Investment Research lowered Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Credit Suisse Group reissued an “outperform” rating and set a $80.00 target price on shares of Bright Horizons Family Solutions in a report on Monday, April 17th. BMO Capital Markets reissued a “hold” rating and set a $83.00 target price on shares of Bright Horizons Family Solutions in a report on Friday, May 5th. Finally, BidaskClub lowered Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $81.00.
In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 6,666 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $76.11, for a total value of $507,349.26. Following the completion of the sale, the director now directly owns 67,284 shares of the company’s stock, valued at $5,120,985.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mary Lou Burke sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $76.60, for a total value of $383,000.00. Following the completion of the sale, the chief operating officer now directly owns 36,266 shares of the company’s stock, valued at $2,777,975.60. The disclosure for this sale can be found here. Insiders sold 4,229,693 shares of company stock valued at $334,985,492 over the last three months. Company insiders own 2.90% of the company’s stock.
About Bright Horizons Family Solutions
Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.
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