LPL Financial LLC Has $5.94 Million Stock Position in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Key Points

• LPL Financial LLC increased its stake in Bright Horizons Family Solutions by 16.8%, owning 46,787 shares valued at approximately $5.9 million as of its latest SEC filing.
• Bright Horizons reported earnings of $1.07 EPS, surpassing analyst expectations, with a revenue of $731.57 million, marking a 9.2% year-over-year growth.
• Multiple institutional investors have boosted their positions in Bright Horizons, with Russell Investments raising its stake by 140.3% in the last quarter.

LPL Financial LLC increased its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,787 shares of the company's stock after purchasing an additional 6,719 shares during the quarter. LPL Financial LLC owned approximately 0.08% of Bright Horizons Family Solutions worth $5,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in shares of Bright Horizons Family Solutions by 140.3% in the 4th quarter. Russell Investments Group Ltd. now owns 9,359 shares of the company's stock valued at $1,037,000 after purchasing an additional 5,465 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Bright Horizons Family Solutions by 194.8% in the 4th quarter. Federated Hermes Inc. now owns 914 shares of the company's stock valued at $101,000 after purchasing an additional 604 shares in the last quarter. Bank of Montreal Can raised its position in shares of Bright Horizons Family Solutions by 3.6% in 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. Bank of Nova Scotia acquired a new position in shares of Bright Horizons Family Solutions in the 4th quarter valued at approximately $355,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Bright Horizons Family Solutions by 0.6% in the 4th 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 in the last quarter.

Insider Buying and Selling

In other news, Director Mary Ann Tocio sold 3,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $120.10, for a total transaction of $360,300.00. Following the completion of the sale, the director directly owned 18,233 shares of the company's stock, valued at $2,189,783.30. This represents a 14.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mary Lou Burke sold 1,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $128.99, for a total value of $128,990.00. Following the sale, the chief operating officer directly owned 28,449 shares of the company's stock, valued at approximately $3,669,636.51. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,282 shares of company stock valued at $2,212,923. 1.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BFAM shares. Jefferies Financial Group downgraded Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and lowered their price target for the company from $146.00 to $135.00 in a report on Monday, June 23rd. Morgan Stanley lowered their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bright Horizons Family Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $137.75.

Bright Horizons Family Solutions Price Performance

Shares of Bright Horizons Family Solutions stock traded up $1.56 during trading on Friday, hitting $120.54. The stock had a trading volume of 194,474 shares, compared to its average volume of 496,012. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.56 and a quick ratio of 0.60. The firm has a market cap of $6.85 billion, a P/E ratio of 39.52 and a beta of 1.34. The business has a fifty day moving average of $119.13 and a two-hundred day moving average of $122.12. Bright Horizons Family Solutions Inc. has a fifty-two week low of $103.75 and a fifty-two week high of $141.90.

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 for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $731.57 million during the quarter, compared to analyst estimates of $724.32 million. Bright Horizons Family Solutions had a return on equity of 15.12% and a net margin of 6.34%. The company's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, sell-side analysts expect that Bright Horizons Family Solutions Inc. will post 3.61 earnings per share 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.