Algert Global Lowers stake in Brightcove Inc (BCOV)

Brightcove Inc (BCOV) : Algert Global reduced its stake in Brightcove Inc by 11.1% during the most recent quarter end. The investment management company now holds a total of 300,806 shares of Brightcove Inc which is valued at $3,787,148 after selling 37,577 shares in Brightcove Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Brightcove Inc makes up approximately 1.11% of Algert Global’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in BCOV by selling 200 shares or 7.11% in the most recent quarter. The Hedge Fund company now holds 2,614 shares of BCOV which is valued at $34,400.First Mercantile Trust Co reduced its stake in BCOV by selling 3,159 shares or 8.38% in the most recent quarter. The Hedge Fund company now holds 34,553 shares of BCOV which is valued at $437,095. Brightcove Inc makes up approx 0.06% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in BCOV in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 2,067 shares of Brightcove Inc which is valued at $27,470.

Brightcove Inc closed down -0.57 points or -4.33% at $12.59 with 1,92,757 shares getting traded on Tuesday. Post opening the session at $13.18, the shares hit an intraday low of $12.462 and an intraday high of $13.19 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Brightcove Inc reported $-0.01 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $-0.01. The company had revenue of $36.96 million for the quarter, compared to analysts expectations of $36.07 million. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Many Wall Street Analysts have commented on Brightcove Inc. Company shares were Reiterated by Dougherty & Company on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 16 from a previous price target of $13 .Company shares were Reiterated by Dougherty & Company on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $10.50 .

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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