Brightcove Inc (NASDAQ:BCOV) was in 11 hedge funds’ portfolio at the end of the first quarter of 2013. BCOV shareholders have witnessed an increase in activity from the world’s largest hedge funds in recent months. There were 8 hedge funds in our database with BCOV holdings at the end of the previous quarter.
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Now, we’re going to take a peek at the recent action encompassing Brightcove Inc (NASDAQ:BCOV).
Hedge fund activity in Brightcove Inc (NASDAQ:BCOV)
At the end of the first quarter, a total of 11 of the hedge funds we track held long positions in this stock, a change of 38% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their holdings substantially.
When looking at the hedgies we track, Edward Gilhuly and Scott Stuart’s Sageview Capital had the biggest position in Brightcove Inc (NASDAQ:BCOV), worth close to $8.3 million, comprising 2.6% of its total 13F portfolio. Coming in second is Wilmot B. Harkey and Daniel Mack of Nantahala Capital Management, with a $6.1 million position; 1% of its 13F portfolio is allocated to the stock. Some other peers that hold long positions include Mark N. Diker’s Diker Management, Anand Parekh’s Alyeska Investment Group and Bain Capital’s Brookside Capital.
As industrywide interest jumped, key hedge funds have jumped into Brightcove Inc (NASDAQ:BCOV) headfirst. Sageview Capital, managed by Edward Gilhuly and Scott Stuart, assembled the most outsized position in Brightcove Inc (NASDAQ:BCOV). Sageview Capital had 8.3 million invested in the company at the end of the quarter. Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management also made a $6.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Jim Simons’s Renaissance Technologies, Alex Sacerdote ‘s Whale Rock Capital Management, and Ken Griffin’s Citadel Investment Group.
Insider trading activity in Brightcove Inc (NASDAQ:BCOV)
Bullish insider trading is at its handiest when the company in focus has experienced transactions within the past six months. Over the latest half-year time frame, Brightcove Inc (NASDAQ:BCOV) has seen 1 unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Brightcove Inc (NASDAQ:BCOV). These stocks are ARC Document Solutions Inc (NYSE:ARC), QAD Inc. (NASDAQ:QADA), Unwired Planet Inc (NASDAQ:UPIP), Pervasive Software Inc. (NASDAQ:PVSW), and Magic Software Enterprises Ltd. (NASDAQ:MGIC). This group of stocks belong to the application software industry and their market caps are closest to BCOV’s market cap.