Geneva Advisors LLC lowered its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 579,660 shares of the company’s stock after selling 952 shares during the period. Geneva Advisors LLC owned approximately 0.98% of Bright Horizons Family Solutions worth $44,756,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock worth $198,843,000 after buying an additional 2,739,278 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Bright Horizons Family Solutions during the first quarter worth $32,736,000. Neuberger Berman Group LLC increased its stake in shares of Bright Horizons Family Solutions by 92.8% in the first quarter. Neuberger Berman Group LLC now owns 553,518 shares of the company’s stock worth $40,125,000 after buying an additional 266,468 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Bright Horizons Family Solutions by 27.9% in the first quarter. Eagle Asset Management Inc. now owns 893,552 shares of the company’s stock worth $64,773,000 after buying an additional 194,710 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Bright Horizons Family Solutions by 11.3% in the first quarter. Wells Fargo & Company MN now owns 1,745,902 shares of the company’s stock worth $126,561,000 after buying an additional 176,751 shares during the period.
Bright Horizons Family Solutions Inc. (BFAM) opened at 80.33 on Thursday. Bright Horizons Family Solutions Inc. has a 52-week low of $59.00 and a 52-week high of $82.00. The company’s 50-day moving average is $78.81 and its 200-day moving average is $74.95. The firm has a market capitalization of $4.75 billion, a PE ratio of 42.87 and a beta of 0.12.
Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $445.55 million during the quarter, compared to the consensus estimate of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. Bright Horizons Family Solutions’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. Analysts forecast that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current fiscal year.
BFAM has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday, June 20th. Citigroup Inc. initiated coverage on shares of Bright Horizons Family Solutions in a report on Tuesday, July 18th. They set a “buy” rating and a $90.00 price target for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $83.00 price target on shares of Bright Horizons Family Solutions in a report on Friday, May 5th. Credit Suisse Group downgraded shares of Bright Horizons Family Solutions from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $80.00 to $83.00 in a report on Friday, May 12th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bright Horizons Family Solutions has a consensus rating of “Buy” and a consensus price target of $83.67.
In other news, CAO Mandy Berman sold 3,699 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.94, for a total transaction of $280,902.06. Following the completion of the sale, the chief accounting officer now directly owns 16,125 shares in the company, valued at $1,224,532.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 2,000 shares of Bright Horizons Family Solutions stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $79.98, for a total value of $159,960.00. Following the sale, the chief operating officer now owns 33,266 shares of the company’s stock, valued at $2,660,614.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,697 shares of company stock valued at $3,230,288. 2.90% of the stock is owned by corporate insiders.
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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