T. Rowe Price Investment Management Inc. Sells 993,416 Shares of Bright Horizons Family Solutions Inc. $BFAM

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Bright Horizons Family Solutions Inc. by 20%, selling 993,416 shares during the first quarter, leaving them with approximately $503.73 million in holdings.
• Jefferies Financial Group and Morgan Stanley downgraded their ratings and target prices for Bright Horizons, reflecting a cautious outlook as Jefferies cut its target from $146 to $135.
• Bright Horizons reported an earnings surprise with $1.07 EPS against an estimate of $1.00, along with revenues of $731.57 million, marking a 9.2% year-over-year increase.

T. Rowe Price Investment Management Inc. lessened its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,965,122 shares of the company's stock after selling 993,416 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.93% of Bright Horizons Family Solutions worth $503,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its holdings in Bright Horizons Family Solutions by 62.2% during the 1st quarter. Larson Financial Group LLC now owns 206 shares of the company's stock valued at $26,000 after purchasing an additional 79 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in Bright Horizons Family Solutions by 4.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,104 shares of the company's stock valued at $267,000 after purchasing an additional 82 shares in the last quarter. Bank of Montreal Can increased its holdings in Bright Horizons Family Solutions by 3.6% during the 4th quarter. Bank of Montreal Can now owns 2,912 shares of the company's stock valued at $323,000 after purchasing an additional 101 shares in the last quarter. Parallel Advisors LLC increased its holdings in Bright Horizons Family Solutions by 79.9% during the 1st quarter. Parallel Advisors LLC now owns 322 shares of the company's stock valued at $41,000 after purchasing an additional 143 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Bright Horizons Family Solutions by 6.5% during the 1st quarter. Fifth Third Bancorp now owns 3,238 shares of the company's stock valued at $411,000 after purchasing an additional 198 shares in the last quarter.

Bright Horizons Family Solutions Trading Up 1.3%

Shares of NYSE BFAM traded up $1.5790 during midday trading on Friday, hitting $123.4590. The stock had a trading volume of 641,041 shares, compared to its average volume of 728,987. The company's 50-day simple moving average is $118.77 and its 200 day simple moving average is $122.10. The firm has a market cap of $7.02 billion, a P/E ratio of 40.48 and a beta of 1.34. Bright Horizons Family Solutions Inc. has a fifty-two week low of $103.75 and a fifty-two week high of $141.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.56 and a quick ratio of 0.56.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Bright Horizons Family Solutions had a return on equity of 15.12% and a net margin of 6.34%.The business had revenue of $731.57 million during the quarter, compared to analysts' expectations of $724.32 million. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. Bright Horizons Family Solutions has set its FY 2025 guidance at 4.150-4.250 EPS. Research analysts anticipate that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BFAM. Morgan Stanley dropped their price target on Bright Horizons Family Solutions from $106.00 to $100.00 and set an "underweight" rating for the company in a report on Monday, July 28th. Jefferies Financial Group cut Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and lowered their target price for the company from $146.00 to $135.00 in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.75.

Insider Buying and Selling

In related news, COO Mary Lou Burke sold 1,000 shares of Bright Horizons Family Solutions stock in a transaction on Friday, August 1st. The stock was sold at an average price of $128.99, for a total transaction of $128,990.00. Following the completion of the sale, the chief operating officer directly owned 28,449 shares of the company's stock, valued at $3,669,636.51. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth J. Boland sold 3,500 shares of Bright Horizons Family Solutions stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $132.16, for a total value of $462,560.00. Following the sale, the chief financial officer directly owned 80,162 shares of the company's stock, valued at approximately $10,594,209.92. This trade represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,282 shares of company stock valued at $2,212,923 in the last three months. 1.21% of the stock is currently owned by company insiders.

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 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.