Fintel reports that Edenbrook Capital has filed a 13D/A form with the SEC disclosing ownership of 6.08MM shares of Brightcove Inc (BCOV). This represents 14.36% of the company.

In their previous filing dated November 16, 2022 they reported 5.61MM shares and 13.33% of the company, an increase in shares of 8.34% and an increase in total ownership of 1.03% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 98.40% Upside

As of March 20, 2023, the average one-year price target for Brightcove is $8.67. The forecasts range from a low of $7.07 to a high of $10.50. The average price target represents an increase of 98.40% from its latest reported closing price of $4.37.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Brightcove is $214MM, an increase of 1.53%. The projected annual non-GAAP EPS is $0.19.

What is the Fund Sentiment?

There are 252 funds or institutions reporting positions in Brightcove. This is a decrease of 3 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to BCOV is 0.10%, a decrease of 27.89%. Total shares owned by institutions increased in the last three months by 1.57% to 38,510K shares. The put/call ratio of BCOV is 0.09, indicating a bullish outlook.

What are Large Shareholders Doing?

Trigran Investments holds 6,879K shares representing 16.25% 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 24.47% over the last quarter.

Lynrock Lake holds 3,147K shares representing 7.43% ownership of the company. In it’s prior filing, the firm reported owning 2,445K shares, representing an increase of 22.29%. The firm increased its portfolio allocation in BCOV by 9.56% over the last quarter.

Archon Capital Management holds 2,424K shares representing 5.73% ownership of the company. No change in the last quarter.

Federated Hermes holds 1,668K shares representing 3.94% ownership of the company. In it’s prior filing, the firm reported owning 2,417K shares, representing a decrease of 44.87%. The firm decreased its portfolio allocation in BCOV by 45.92% over the last quarter.

QASCX – Federated MDT Small Cap Core Fund Shares holds 1,280K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 1,386K shares, representing a decrease of 8.27%. The firm increased its portfolio allocation in BCOV by 11.68% 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 article originally appeared on Fintel

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