Hillsdale Investment Management Inc. Sells 21,000 Shares of Brightcove Inc. (NASDAQ:BCOV)

Hillsdale Investment Management Inc. lessened its holdings in shares of Brightcove Inc. (NASDAQ:BCOV) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,900 shares of the software maker’s stock after selling 21,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Brightcove were worth $178,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Edenbrook Capital LLC grew its position in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after acquiring an additional 120,121 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Brightcove by 1,124.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after purchasing an additional 225,482 shares during the last quarter. Geode Capital Management LLC increased its stake in Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares during the period. JPMorgan Chase & Co. increased its stake in Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after buying an additional 15,291 shares during the period. Finally, R Squared Ltd bought a new stake in Brightcove during the 4th quarter valued at about $90,000. Institutional investors own 80.12% of the company’s stock.

Brightcove Stock Performance

NASDAQ:BCOV opened at $4.45 on Tuesday. The company’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $3.59. Brightcove Inc. has a fifty-two week low of $1.55 and a fifty-two week high of $4.46. The stock has a market capitalization of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01.

Wall Street Analyst Weigh In

BCOV has been the topic of several research reports. Rosenblatt Securities restated a “neutral” rating and set a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, StockNews.com assumed coverage on Brightcove in a report on Monday. They issued a “buy” rating on the stock.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.