Victory Capital Management Inc. cut its holdings in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM – Free Report) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,261 shares of the company’s stock after selling 145 shares during the quarter. Victory Capital Management Inc.’s holdings in Bright Horizons Family Solutions were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of BFAM. Morgan Stanley lifted its stake in Bright Horizons Family Solutions by 301.8% during the 4th quarter. Morgan Stanley now owns 856,581 shares of the company’s stock worth $54,050,000 after acquiring an additional 643,410 shares in the last quarter. Norges Bank acquired a new position in Bright Horizons Family Solutions during the 4th quarter worth about $35,706,000. Goldman Sachs Group Inc. lifted its stake in Bright Horizons Family Solutions by 249.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 476,170 shares of the company’s stock worth $63,183,000 after acquiring an additional 340,088 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Bright Horizons Family Solutions by 9.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,509,737 shares of the company’s stock worth $270,216,000 after acquiring an additional 309,359 shares in the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in Bright Horizons Family Solutions by 38.1% during the 1st quarter. Frontier Capital Management Co. LLC now owns 729,601 shares of the company’s stock worth $56,172,000 after acquiring an additional 201,376 shares in the last quarter.
Analyst Upgrades and Downgrades
BFAM has been the topic of several research reports. Morgan Stanley increased their target price on Bright Horizons Family Solutions from $61.00 to $64.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 2nd. UBS Group raised Bright Horizons Family Solutions from a “sell” rating to a “neutral” rating and increased their price target for the company from $82.00 to $83.00 in a research report on Monday, October 23rd. BMO Capital Markets reduced their price target on Bright Horizons Family Solutions from $99.00 to $92.00 in a research report on Thursday, August 3rd. JPMorgan Chase & Co. increased their price target on Bright Horizons Family Solutions from $88.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Finally, StockNews.com raised Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Bright Horizons Family Solutions has a consensus rating of “Hold” and an average price target of $84.63.
Bright Horizons Family Solutions Price Performance
Shares of NYSE BFAM opened at $81.08 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. Bright Horizons Family Solutions Inc. has a fifty-two week low of $59.55 and a fifty-two week high of $98.87. The firm has a market capitalization of $4.69 billion, a PE ratio of 73.05, a price-to-earnings-growth ratio of 2.90 and a beta of 1.26. The stock’s 50-day simple moving average is $84.55 and its 200-day simple moving average is $87.66.
Bright Horizons Family Solutions (NYSE:BFAM – Get Free Report) last issued its earnings results on Tuesday, August 1st. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. Bright Horizons Family Solutions had a return on equity of 11.52% and a net margin of 2.92%. The business had revenue of $603.22 million for the quarter, compared to analyst estimates of $577.65 million. As a group, equities research analysts forecast that Bright Horizons Family Solutions Inc. will post 2.33 EPS for the current fiscal year.
Insider Transactions at Bright Horizons Family Solutions
In other news, CEO Stephen Howard Kramer sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $95.65, for a total transaction of $1,434,750.00. Following the sale, the chief executive officer now owns 122,518 shares of the company’s stock, valued at approximately $11,718,846.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Mary Lou Burke sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $81.22, for a total transaction of $48,732.00. Following the transaction, the chief operating officer now owns 41,153 shares in the company, valued at approximately $3,342,446.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Howard Kramer sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $95.65, for a total value of $1,434,750.00. Following the transaction, the chief executive officer now owns 122,518 shares in the company, valued at approximately $11,718,846.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,200 shares of company stock valued at $1,636,586. Corporate insiders own 1.28% of the company’s stock.
Bright Horizons Family Solutions Profile
Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.
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