AQR Capital Management LLC Has $3.75 Million Position in Brightcove Inc. (BCOV)

AQR Capital Management LLC raised its stake in shares of Brightcove Inc. (NASDAQ:BCOV) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 421,836 shares of the software maker’s stock after buying an additional 7,062 shares during the period. AQR Capital Management LLC owned about 1.25% of Brightcove worth $3,754,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Brightcove during the fourth quarter valued at approximately $119,000. Parametric Portfolio Associates LLC raised its position in Brightcove by 14.0% in the first quarter. Parametric Portfolio Associates LLC now owns 17,819 shares of the software maker’s stock worth $159,000 after buying an additional 2,183 shares during the last quarter. Citadel Advisors LLC raised its position in Brightcove by 212.1% in the first quarter. Citadel Advisors LLC now owns 18,167 shares of the software maker’s stock worth $162,000 after buying an additional 34,367 shares during the last quarter. American International Group Inc. raised its position in Brightcove by 7.1% in the first quarter. American International Group Inc. now owns 18,452 shares of the software maker’s stock worth $164,000 after buying an additional 1,223 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Brightcove by 21.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,154 shares of the software maker’s stock worth $186,000 after buying an additional 4,148 shares during the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.

Shares of Brightcove Inc. (NASDAQ BCOV) opened at 6.85 on Wednesday. Brightcove Inc. has a 12-month low of $5.40 and a 12-month high of $13.80. The firm’s market cap is $235.26 million. The stock’s 50 day moving average is $6.45 and its 200-day moving average is $7.27.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, July 26th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.02. The business had revenue of $38.75 million during the quarter, compared to the consensus estimate of $37.13 million. Brightcove had a negative net margin of 12.22% and a negative return on equity of 19.65%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted ($0.01) EPS. On average, analysts anticipate that Brightcove Inc. will post ($0.37) EPS for the current fiscal year.

A number of research analysts have issued reports on BCOV shares. B. Riley lowered shares of Brightcove to a “neutral” rating and set a $5.50 target price for the company. in a research note on Wednesday, May 10th. Stifel Nicolaus dropped their price target on shares of Brightcove from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Monday, May 15th. Northland Securities set a $7.00 price target on shares of Brightcove and gave the stock a “hold” rating in a research report on Friday, July 21st. ValuEngine downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research downgraded shares of Brightcove from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $10.40.

Brightcove Company Profile

Brightcove Inc is a global provider of cloud-based services for video. The Company’s products and services include Brightcove Video Cloud (Video Cloud), Brightcove Zencoder (Zencoder), Brightcove Once (Once), Brightcove Perform (Perform), Brightcove Video Marketing Suite (Video Marketing Suite), Brightcove Lift (Lift), Brightcove OTT Flow (OTT Flow) and Brightcove Enterprise Video Suite (Enterprise Video Suite), among others.