Bright Horizons Family Solutions Inc. (NYSE:BFAM) experienced a significant increase in its position by 760.5% in the second quarter, as reported by Wedge Capital Management L L P NC in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor now holds 28,018 shares of Bright Horizons Family Solutions’ stock after purchasing an additional 24,762 shares during the quarter. This substantial investment brings the value of Wedge Capital Management’s holdings to $2,590,000 at the end of the quarter.
On August 1st, Bright Horizons Family Solutions released its earnings results for the quarter. The company reported earnings per share (EPS) of $0.54, surpassing analysts’ consensus estimates of $0.48 by $0.06. Additionally, Bright Horizons Family Solutions achieved a return on equity of 11.52% and a net margin of 2.92%. The company generated $603.22 million in revenue during this period, exceeding analysts’ expectations set at $577.65 million. Analysts are predicting that Bright Horizons Family Solutions Inc.’s earnings will reach $2.33 per share for the current year.
In light of these financial updates, several analysts have provided their assessments of the company’s performance. StockNews.com downgraded Bright Horizons Family Solutions from a “hold” rating to a “sell” rating in a research note published on September 18th. Morgan Stanley raised their price target from $61 to $64 but maintained their “underweight” rating on August 2nd, while BMO Capital Markets decreased their price target from $99 to $92 on August 3rd.
Contrarily, JPMorgan Chase & Co., in their research note on August 2nd increased their price target on Bright Horizons Family Solutions from $88 to $104 and gave the stock an “overweight” rating. UBS Group began its coverage on Bright Horizons Family Solutions on May 31st and assigned a “sell” rating along with a price target of $79.
Taking into consideration the different ratings, it is evident that the consensus rating on Bloomberg for Bright Horizons Family Solutions is currently “Hold,” with an average target price of $84.13.
These recent developments highlight the varying opinions among analysts about the future prospects of Bright Horizons Family Solutions Inc. Investors should consider these assessments when making their own investment decisions in light of their individual financial goals and risk appetite.
Bright Horizons Family Solutions Inc.
BFAM
Strong Buy
Updated on: 07/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds Make Significant Changes to Positions in Bright Horizons Family Solutions (BFAM) as Directors Sell Stock
In recent news, a number of hedge funds have made significant changes to their positions in Bright Horizons Family Solutions (BFAM). One such fund, Eagle Bay Advisors LLC, has acquired a new stake in the company during the second quarter. This stake is valued at $26,000. Additionally, Daiwa Securities Group Inc. has increased its stake in BFAM by 184.0% during the first quarter. They now own 355 shares of the company’s stock, valued at $27,000 after acquiring an additional 230 shares during the last quarter.
Another hedge fund, First Horizon Advisors Inc., saw a boost in their stake in Bright Horizons Family Solutions by 93.8% during the fourth quarter. They now own 624 shares of the company’s stock, valued at $39,000 after acquiring an additional 302 shares during the last quarter. Belpointe Asset Management LLC also experienced a significant increase in their stake in BFAM during the first quarter. Their stake rose by 118.6%, now amounting to 564 shares of the stock worth $43,000 after acquiring an additional 306 shares.
Furthermore, Harvest Fund Management Co. Ltd joined Eagle Bay Advisors LLC by acquiring a new stake in Bright Horizons Family Solutions during the first quarter valued at $52,000.
It is important to note that amidst these changes within hedge funds’ positions in BFAM, Director Mary Ann Tocio and CEO Stephen Howard Kramer engaged in substantial stock sales transactions as well.
Director Mary Ann Tocio sold 10,000 shares of BFAM on August 3rd for an average price of $92.02 per share. This sale amounted to a total transaction value of $920,200. Following this sale, Tocio currently holds approximately 46,855 shares of Bright Horizons Family Solutions stock with a value of around $4,311,597.
CEO Stephen Howard Kramer also unloaded 15,000 shares of BFAM on August 25th at an average price of $95.65 per share. The total transaction value for this sale reached $1,434,750. Following this transaction, Kramer now directly holds 122,518 shares of the company’s stock valued at approximately $11,718,846.
In total, insiders have sold 26,600 shares of Bright Horizons Family Solutions stock in the last quarter with a total worth of $2,508,054. It is essential to know that currently 1.28% of the stock is owned by company insiders.
As for the current state of Bright Horizons Family Solutions Inc., NYSE:BFAM began trading at an opening price of $83.67 on Wednesday. The company has reported a debt-to-equity ratio of 0.83 and a quick ratio as well as a current ratio both standing at 0.44.
Over the past year, BFAM has seen a low point at $54.19 and reached a high point at $98.87 in terms of share prices. With a market capitalization amounting to $4.84 billion and a P/E ratio of 75.38, Bright Horizons Family Solutions holds a strong position in the market.
Furthermore, the stock has shown stability with its simple moving averages; it currently has a 50-day simple moving average reading $92.59 and a 200-day simple moving average reading $87.44.
In conclusion, hedge funds have been actively making changes to their positions in Bright Horizons Family Solutions (BFAM), further solidifying their involvement in the stock market competition surrounding BFAM’s stocks and increasing their influence on company operations and decision-making processes throughout this year.
Please note: This article includes references from September 27thm whereby data might have changed after this date for accurate representation please consult the latest information.
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