Fintel reports that Archon Capital Management has filed a 13G/A form with the SEC disclosing ownership of 2.42MM shares of Brightcove Inc (BCOV). This represents 5.76% of the company.
In their previous filing dated February 14, 2022 they reported 2.61MM shares and 6.34% of the company, a decrease in shares of 6.99% and a decrease in total ownership of 0.58% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 22.20% Upside
As of February 12, 2023, the average one-year price target for Brightcove is $7.65. The forecasts range from a low of $7.07 to a high of $8.40. The average price target represents an increase of 22.20% from its latest reported closing price of $6.26.
The projected annual revenue for Brightcove is $214MM, a decrease of 0.08%. The projected annual EPS is $0.19.
What is the Fund Sentiment?
There are 247 funds or institutions reporting positions in Brightcove. This is a decrease of 15 owner(s) or 5.73% in the last quarter. Average portfolio weight of all funds dedicated to BCOV is 0.14%, an increase of 6.72%. Total shares owned by institutions decreased in the last three months by 2.09% to 38,040K shares. The put/call ratio of BCOV is 0.05, indicating a bullish outlook.
What are large shareholders doing?
Trigran Investments holds 6,879K shares representing 16.35% ownership of the company. In it's prior filing, the firm reported owning 6,603K shares, representing an increase of 4.01%. The firm decreased its portfolio allocation in BCOV by 70.46% over the last quarter.
Edenbrook Capital holds 5,280K shares representing 12.55% ownership of the company. In it's prior filing, the firm reported owning 4,807K shares, representing an increase of 8.95%. The firm increased its portfolio allocation in BCOV by 4.56% over the last quarter.
Lynrock Lake holds 2,445K shares representing 5.81% ownership of the company. In it's prior filing, the firm reported owning 2,101K shares, representing an increase of 14.07%. The firm increased its portfolio allocation in BCOV by 5.72% over the last quarter.
Federated Hermes holds 2,417K shares representing 5.74% ownership of the company. In it's prior filing, the firm reported owning 2,436K shares, representing a decrease of 0.79%. The firm decreased its portfolio allocation in BCOV by 39.81% over the last quarter.
Tenzing Global Management holds 2,250K shares representing 5.35% ownership of the company. In it's prior filing, the firm reported owning 2,950K shares, representing a decrease of 31.11%. The firm decreased its portfolio allocation in BCOV by 20.99% over the last quarter.
Brightcove Background Information
(This description is provided by the company.)
Since 2004, Brightcove has been helping customers discover and experience the incredible power of video through its award-winning technology, empowering organizations in more than 70 countries across the globe to touch audiences in bold and innovative ways. Brightcove achieves this by developing technologies once thought impossible, providing customer support without parallel or excuses, and leveraging the expertise and resources of a global infrastructure. Video is the world's most compelling, exciting medium.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
