Horrell Capital Management Lowers stake in Brightcove Inc (BCOV)

Brightcove Inc (BCOV) : Horrell Capital Management reduced its stake in Brightcove Inc by 38.46% during the most recent quarter end. The investment management company now holds a total of 160,000 shares of Brightcove Inc which is valued at $985,600 after selling 100,000 shares in Brightcove Inc , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Brightcove Inc makes up approximately 0.61% of Horrell Capital Management’s portfolio.

Brightcove Inc opened for trading at $6.25 and hit $6.4184 on the upside on Wednesday, eventually ending the session at $6.39, with a gain of 2.24% or 0.14 points. The heightened volatility saw the trading volume jump to 1,28,806 shares. Company has a market cap of $209 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in BCOV during the most recent quarter. The investment firm sold 23,000 shares of BCOV which is valued $141,680.Acadian Asset Management boosted its stake in BCOV in the latest quarter, The investment management firm added 493,865 additional shares and now holds a total of 804,143 shares of Brightcove Inc which is valued at $4,897,231. Brightcove Inc makes up approx 0.02% of Acadian Asset Management’s portfolio.Creative Planning reduced its stake in BCOV by selling 7,800 shares or 97.5% in the most recent quarter. The Hedge Fund company now holds 200 shares of BCOV which is valued at $1,198.

On the company’s financial health, Brightcove Inc reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.02. The company had revenue of $35.14 million for the quarter, compared to analysts expectations of $34.00 million. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on Brightcove Inc. Ladenburg Thalmann Initiated Brightcove Inc on Mar 22, 2016 to “Buy”, Price Target of the shares are set at $10.

Brightcove Inc. (Brightcove) is a provider of cloud-based services for video. The Company’s flagship product Brightcove Video Cloud (or) Video Cloud is the online video platform which enables its customers to publish and distribute video to Internet-connected devices. Its other products and services include Brightcove Zencoder (Zencoder) Brightcove Once (Once) Brightcove Gallery (Gallery) Brightcove Perform (Perform) and Brightcove Video Marketing Suite (Video Marketing Suite). Zencoder is a cloud-based video encoding service. Once is a cloud-based ad insertion and video stitching service. Gallery is a cloud-based service that enables customers to create and publish video portals. Perform is a cloud-based service for creating and managing video player experiences. Video Marketing Suite is a suite of video technologies. It provides its solutions to media companies broadcasters brands and corporations as well as Governments educational institutions and non-profit organizations.

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