California Public Employees Retirement System Decreases Stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System cut its holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,417 shares of the company’s stock after selling 1,380 shares during the quarter. California Public Employees Retirement System owned 0.22% of Bright Horizons Family Solutions worth $8,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. raised its holdings in Bright Horizons Family Solutions by 5.6% during the third quarter. Prudential Financial Inc. now owns 4,221 shares of the company’s stock worth $246,000 after purchasing an additional 222 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Bright Horizons Family Solutions by 33.3% in the third quarter. Allianz Asset Management GmbH now owns 289,393 shares of the company’s stock worth $16,684,000 after acquiring an additional 72,296 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Bright Horizons Family Solutions by 2.2% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,978,029 shares of the company’s stock worth $114,033,000 after acquiring an additional 41,839 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Bright Horizons Family Solutions in the fourth quarter worth $2,881,000. Finally, Centiva Capital LP raised its holdings in shares of Bright Horizons Family Solutions by 141.9% in the third quarter. Centiva Capital LP now owns 8,009 shares of the company’s stock worth $462,000 after acquiring an additional 4,698 shares during the last quarter.

Bright Horizons Family Solutions Price Performance

Shares of NYSE BFAM opened at $85.82 on Wednesday. Bright Horizons Family Solutions Inc. has a 1-year low of $54.19 and a 1-year high of $94.89. The business has a 50-day moving average of $79.37 and a 200-day moving average of $74.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 72.73 and a beta of 1.22.

Bright Horizons Family Solutions (NYSE:BFAM – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. Bright Horizons Family Solutions had a return on equity of 12.19% and a net margin of 3.28%. The company had revenue of $529.52 million during the quarter, compared to the consensus estimate of $528.43 million. On average, equities analysts anticipate that Bright Horizons Family Solutions Inc. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BFAM shares. TheStreet raised Bright Horizons Family Solutions from a “d+” rating to a “c-” rating in a research report on Monday, January 30th. Citigroup downgraded Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $95.00 to $101.00 in a research report on Friday, May 12th. BMO Capital Markets lowered their price target on Bright Horizons Family Solutions from $84.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, February 21st. Robert W. Baird boosted their price target on Bright Horizons Family Solutions from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Finally, StockNews.com raised Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Bright Horizons Family Solutions currently has an average rating of “Hold” and a consensus price target of $78.43.

Insider Transactions at Bright Horizons Family Solutions

In related news, CEO Stephen Howard Kramer sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $84.38, for a total value of $421,900.00. Following the transaction, the chief executive officer now owns 147,993 shares in the company, valued at $12,487,649.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 7,680 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $89.76, for a total transaction of $689,356.80. Following the sale, the chief operating officer now owns 43,353 shares in the company, valued at $3,891,365.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Howard Kramer sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $84.38, for a total value of $421,900.00. Following the sale, the chief executive officer now owns 147,993 shares in the company, valued at approximately $12,487,649.34. The disclosure for this sale can be found here. Insiders sold 27,480 shares of company stock valued at $2,450,769 over the last quarter. Company insiders own 1.20% of the company’s stock.

About Bright Horizons Family Solutions

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Bright Horizons Family Solutions, Inc engages in the provision of child care and early education, dependent care, and workforce education services. It operates through the following segments: Full-Service Center-Based Child Care, Back-Up Care Services, Educational Advisory and Other Services. The Full-Service Center-Based Child Care segment consists of traditional center-based child care and early education, preschool, and elementary education.