Blueshift Asset Management LLC Has $1.18 Million Holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Key Points

• Blueshift Asset Management LLC significantly increased its stake in Bright Horizons Family Solutions Inc. by 304.9% during the first quarter, holding shares worth approximately $1.18 million.
• In recent insider trading, CFO Elizabeth J. Boland sold 3,500 shares for about $462,560, while Director David H. Lissy sold 6,282 shares worth around $817,288, both resulting in notable decreases in their ownership.
• Bright Horizons reported a quarterly earnings per share of $1.07, surpassing estimates, with a notable 9.2% revenue increase year-over-year, totaling approximately $731.57 million.

Blueshift Asset Management LLC lifted its position in Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 304.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,281 shares of the company's stock after buying an additional 6,989 shares during the period. Blueshift Asset Management LLC's holdings in Bright Horizons Family Solutions were worth $1,179,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Bright Horizons Family Solutions by 62.2% in the first quarter. Larson Financial Group LLC now owns 206 shares of the company's stock valued at $26,000 after purchasing an additional 79 shares during the period. Axxcess Wealth Management LLC lifted its position in Bright Horizons Family Solutions by 4.1% during the first quarter. Axxcess Wealth Management LLC now owns 2,104 shares of the company's stock worth $267,000 after acquiring an additional 82 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Bright Horizons Family Solutions by 3.6% during the fourth quarter. Bank of Montreal Can now owns 2,912 shares of the company's stock worth $323,000 after acquiring an additional 101 shares during the period. Parallel Advisors LLC grew its position in shares of Bright Horizons Family Solutions by 79.9% in the first quarter. Parallel Advisors LLC now owns 322 shares of the company's stock valued at $41,000 after purchasing an additional 143 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Bright Horizons Family Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 25,336 shares of the company's stock valued at $2,808,000 after purchasing an additional 150 shares during the last quarter.

Analyst Upgrades and Downgrades

BFAM has been the subject of several recent research reports. Morgan Stanley reduced their price target on Bright Horizons Family Solutions from $106.00 to $100.00 and set an "underweight" rating for the company in a research note on Monday, July 28th. Jefferies Financial Group downgraded Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and dropped their target price for the stock from $146.00 to $135.00 in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.00.

Bright Horizons Family Solutions Price Performance

Shares of NYSE:BFAM traded up $11.99 during trading on Friday, reaching $125.09. 1,620,844 shares of the company traded hands, compared to its average volume of 514,727. The firm has a market capitalization of $7.16 billion, a PE ratio of 41.01 and a beta of 1.34. Bright Horizons Family Solutions Inc. has a 52 week low of $103.75 and a 52 week high of $141.90. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.66. The company's 50 day moving average is $120.82 and its two-hundred day moving average is $122.04.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Bright Horizons Family Solutions had a net margin of 6.34% and a return on equity of 15.31%. The firm had revenue of $731.57 million for the quarter, compared to the consensus estimate of $724.32 million. During the same period in the prior year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Bright Horizons Family Solutions Inc. will post 3.61 earnings per share for the current year.

Insider Activity

In related news, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $128.49, for a total value of $321,225.00. Following the transaction, the director directly owned 20,257 shares of the company's stock, valued at $2,602,821.93. This trade represents a 10.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elizabeth J. Boland sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $132.16, for a total transaction of $462,560.00. Following the transaction, the chief financial officer owned 80,162 shares of the company's stock, valued at approximately $10,594,209.92. This represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,282 shares of company stock worth $1,723,633. Insiders own 1.21% of the company's stock.

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.