Assenagon Asset Management S.A. Lowers Holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Assenagon Asset Management S.A. lessened its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 89.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,030 shares of the company's stock after selling 88,620 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Bright Horizons Family Solutions were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Atala Financial Inc acquired a new position in Bright Horizons Family Solutions during the fourth quarter valued at approximately $32,000. Parallel Advisors LLC lifted its stake in Bright Horizons Family Solutions by 79.9% during the first quarter. Parallel Advisors LLC now owns 322 shares of the company's stock valued at $41,000 after buying an additional 143 shares in the last quarter. Global Financial Private Client LLC lifted its stake in Bright Horizons Family Solutions by 244.2% in the 1st quarter. Global Financial Private Client LLC now owns 327 shares of the company's stock worth $42,000 after acquiring an additional 232 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Bright Horizons Family Solutions by 76.7% during the 4th quarter. Tortoise Investment Management LLC now owns 417 shares of the company's stock valued at $46,000 after buying an additional 181 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Bright Horizons Family Solutions by 72.7% in the first quarter. GAMMA Investing LLC now owns 475 shares of the company's stock worth $60,000 after buying an additional 200 shares during the last quarter.

Wall Street Analyst Weigh In

BFAM has been the subject of several research reports. Wall Street Zen raised Bright Horizons Family Solutions from a "sell" rating to a "hold" rating in a research report on Saturday, February 22nd. Morgan Stanley lifted their price objective on Bright Horizons Family Solutions from $100.00 to $106.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $138.33.

Insider Activity

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $128.49, for a total transaction of $321,225.00. Following the completion of the transaction, the director now directly owns 20,257 shares in the company, valued at approximately $2,602,821.93. This represents a 10.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Mary Lou Burke sold 1,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $125.36, for a total transaction of $125,360.00. Following the completion of the sale, the chief operating officer now directly owns 31,449 shares of the company's stock, valued at $3,942,446.64. This represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,282 shares of company stock valued at $1,726,433. 1.21% of the stock is currently owned by company insiders.

Bright Horizons Family Solutions Trading Down 0.1%

NYSE:BFAM traded down $0.15 during trading hours on Friday, reaching $122.08. The company's stock had a trading volume of 476,281 shares, compared to its average volume of 458,768. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 44.07 and a beta of 1.33. Bright Horizons Family Solutions Inc. has a 1 year low of $101.92 and a 1 year high of $141.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a 50-day simple moving average of $123.44 and a 200-day simple moving average of $120.83.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $665.53 million during the quarter, compared to analysts' expectations of $664.34 million. Bright Horizons Family Solutions had a net margin of 5.91% and a return on equity of 14.62%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. Research analysts expect that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current fiscal year.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.