Investing

Activist Investor Edenbrook Capital Increases Position Brightcove Inc (BCOV)

Fintel reports that Edenbrook Capital, LLC has filed a 13D/A form with the SEC disclosing ownership of 5,608,490 shares of Brightcove Inc (BCOV). This represents 13.33% of the company.

In their previous filing dated September 23, 2022 they reported 5,116,189 shares and 12.21% of the company, an increase in shares of 9.62% and an increase in total ownership of 1.12% (calculated as current – previous percent ownership).

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.

What are other large shareholders doing?

Trigran Investments, Inc. holds 6,602,977 shares representing 15.69% ownership of the company. In it’s prior filing, the firm reported owning 6,304,155 shares, representing an increase of 4.53%. The firm decreased its portfolio allocation in BCOV by 59.65% over the last quarter.

Edenbrook Capital, LLC holds 5,279,732 shares representing 12.55% ownership of the company. In it’s prior filing, the firm reported owning 4,807,064 shares, representing an increase of 8.95%. The firm increased its portfolio allocation in BCOV by 4.56% over the last quarter.

Lynrock Lake LP holds 2,445,450 shares representing 5.81% ownership of the company. In it’s prior filing, the firm reported owning 2,101,400 shares, representing an increase of 14.07%. The firm increased its portfolio allocation in BCOV by 5.72% over the last quarter.

Archon Capital Management LLC holds 2,424,129 shares representing 5.76% ownership of the company. No change in the last quarter.

Federated Hermes, Inc. holds 2,416,779 shares representing 5.74% ownership of the company. In it’s prior filing, the firm reported owning 2,435,901 shares, representing a decrease of 0.79%. The firm decreased its portfolio allocation in BCOV by 39.81% over the last quarter.

What is the overall institutional sentiment?

There are 267 funds or institutions reporting positions in Brightcove Inc. This is an increase of 13 owner(s) or 5.12%.

Average portfolio weight of all funds dedicated to Brightcove Inc is 0.1187%, a decrease of 3.3397%. Total shares owned by institutions increased in the last three months by 1.65% to 38,091,469 shares.

This article originally appeared on Fintel

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