Bright Horizons Family Solutions Inc. (NYSE:BFAM) Sees Large Decline in Short Interest

Bright Horizons Family Solutions Inc. (NYSE:BFAM) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 428,194 shares, a decline of 44.7% from the June 15th total of 774,063 shares. Based on an average trading volume of 868,228 shares, the short-interest ratio is currently 0.5 days. Approximately 0.9% of the shares of the company are sold short.

In other news, COO Mary Lou Burke sold 5,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $77.76, for a total value of $388,800.00. Following the sale, the chief operating officer now owns 36,380 shares of the company’s stock, valued at approximately $2,828,908.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mandy Berman sold 3,699 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $75.94, for a total value of $280,902.06. Following the completion of the sale, the chief accounting officer now directly owns 16,125 shares in the company, valued at approximately $1,224,532.50. The disclosure for this sale can be found here. Insiders have sold a total of 41,697 shares of company stock worth $3,230,288 in the last ninety days. 2.90% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of BFAM. CWM LLC acquired a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at approximately $1,953,000. Russell Investments Group Ltd. acquired a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $886,000. Schwab Charles Investment Management Inc. increased its stake in shares of Bright Horizons Family Solutions by 8.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 275,102 shares of the company’s stock valued at $19,943,000 after buying an additional 21,567 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $277,000. Finally, State Street Corp increased its stake in shares of Bright Horizons Family Solutions by 3.2% in the first quarter. State Street Corp now owns 840,444 shares of the company’s stock valued at $60,918,000 after buying an additional 25,721 shares during the last quarter.

BFAM has been the topic of a number of research reports. Citigroup Inc. started coverage on Bright Horizons Family Solutions in a research note on Tuesday, July 18th. They issued a “buy” rating and a $90.00 price objective on the stock. Zacks Investment Research raised Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Friday, June 2nd. BidaskClub lowered Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $83.00 target price on shares of Bright Horizons Family Solutions in a research report on Friday, May 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Bright Horizons Family Solutions currently has an average rating of “Buy” and an average target price of $83.67.

Shares of Bright Horizons Family Solutions (NYSE:BFAM) traded down 0.39% on Friday, hitting $79.50. The stock had a trading volume of 156,699 shares. The company has a market capitalization of $4.70 billion, a P/E ratio of 42.42 and a beta of 0.12. Bright Horizons Family Solutions has a one year low of $59.00 and a one year high of $82.00. The firm has a 50 day moving average price of $78.58 and a 200 day moving average price of $74.73.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $445.55 million for the quarter, compared to the consensus estimate of $443.90 million. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, equities research analysts predict that Bright Horizons Family Solutions will post $2.64 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Bright Horizons Family Solutions Inc. (NYSE:BFAM) Sees Large Decline in Short Interest” was first reported by BNB Daily and is owned by of BNB Daily. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/bright-horizons-family-solutions-inc-nysebfam-short-interest-down-44-7-in-june-updated-updated-updated.html.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

Receive News & Ratings for Bright Horizons Family Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bright Horizons Family Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply