Bright Horizons Family Solutions Inc. (BFAM) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 73,144.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,743,023 shares of the company’s stock after buying an additional 2,739,278 shares during the period. BlackRock Inc. owned approximately 4.63% of Bright Horizons Family Solutions worth $198,843,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC bought a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at approximately $1,953,000. Russell Investments Group Ltd. bought a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $886,000. Highbridge Capital Management LLC bought a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $277,000. Comerica Bank bought a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $232,000. Finally, Swiss National Bank raised its stake in shares of Bright Horizons Family Solutions by 1.2% in the first quarter. Swiss National Bank now owns 73,479 shares of the company’s stock valued at $5,326,000 after buying an additional 900 shares during the period. Institutional investors own 98.72% of the company’s stock.

Shares of Bright Horizons Family Solutions Inc. (BFAM) opened at 79.20 on Friday. The company has a market cap of $4.74 billion, a P/E ratio of 43.33 and a beta of 0.12. The firm has a 50-day moving average of $77.68 and a 200-day moving average of $73.79. Bright Horizons Family Solutions Inc. has a 52-week low of $59.00 and a 52-week high of $81.23.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Bright Horizons Family Solutions had a net margin of 6.93% and a return on equity of 18.51%. The business had revenue of $422 million for the quarter, compared to analysts’ expectations of $422.32 million. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts forecast that Bright Horizons Family Solutions Inc. will post $2.61 earnings per share for the current year.

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A number of brokerages have weighed in on BFAM. Zacks Investment Research downgraded shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $80.00 target price on shares of Bright Horizons Family Solutions in a research note on Monday, April 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $83.00 target price on shares of Bright Horizons Family Solutions in a research note on Friday, May 5th. Finally, BidaskClub downgraded shares of Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $81.00.

In related news, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $79.98, for a total value of $79,980.00. Following the sale, the chief operating officer now directly owns 32,266 shares in the company, valued at approximately $2,580,634.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bain Capital Investors Llc sold 4,124,534 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $79.25, for a total transaction of $326,869,319.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,199,547 shares of company stock worth $332,728,747. Corporate insiders own 2.90% of the company’s stock.

Bright Horizons Family Solutions Company Profile

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.