TD Asset Management Inc Has $35.75 Million Stock Holdings in Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Key Points

• TD Asset Management Inc has reduced its stake in Bright Horizons Family Solutions Inc. by 14.6%, now owning 281,398 shares worth approximately $35.7 million following the sale of 47,954 shares.
• Analysts have a Moderate Buy consensus rating for Bright Horizons, with an average price target of $138.00, reflecting recent downgrades from firms such as Jefferies and Morgan Stanley.
• In the latest quarterly earnings report, the company reported a 6.9% year-over-year revenue increase to $665.53 million and beat earnings per share expectations by $0.14.

TD Asset Management Inc cut its stake in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,398 shares of the company's stock after selling 47,954 shares during the quarter. TD Asset Management Inc owned approximately 0.49% of Bright Horizons Family Solutions worth $35,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BFAM. LPL Financial LLC grew its holdings in shares of Bright Horizons Family Solutions by 11.4% during the fourth quarter. LPL Financial LLC now owns 40,068 shares of the company's stock valued at $4,442,000 after buying an additional 4,108 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Bright Horizons Family Solutions by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 5,442,777 shares of the company's stock valued at $603,332,000 after buying an additional 101,151 shares during the last quarter. Norges Bank acquired a new position in shares of Bright Horizons Family Solutions during the fourth quarter valued at about $71,842,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bright Horizons Family Solutions by 209.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 245,544 shares of the company's stock valued at $27,219,000 after buying an additional 166,264 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Bright Horizons Family Solutions by 28.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,349 shares of the company's stock valued at $275,000 after buying an additional 516 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BFAM. Jefferies Financial Group lowered shares of Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and dropped their price target for the company from $146.00 to $135.00 in a research report on Monday, June 23rd. Morgan Stanley reduced their price objective on shares of Bright Horizons Family Solutions from $106.00 to $100.00 and set an "underweight" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $138.00.

Insider Transactions at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director David H. Lissy sold 6,282 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $130.10, for a total transaction of $817,288.20. Following the completion of the transaction, the director owned 69,312 shares in the company, valued at approximately $9,017,491.20. This represents a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Ann Tocio sold 2,500 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $128.49, for a total value of $321,225.00. Following the sale, the director owned 20,257 shares in the company, valued at approximately $2,602,821.93. The trade was a 10.99% 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 valued at $1,723,633. Insiders own 1.21% of the company's stock.

Bright Horizons Family Solutions Trading Up 9.1%

Shares of NYSE:BFAM traded up $10.33 on Friday, hitting $123.43. 858,920 shares of the company's stock were exchanged, compared to its average volume of 476,508. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.60 and a quick ratio of 0.60. The business's 50 day simple moving average is $120.92 and its two-hundred day simple moving average is $121.93. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 44.59 and a beta of 1.30. Bright Horizons Family Solutions Inc. has a 12 month low of $103.75 and a 12 month high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The firm had revenue of $731.57 million for the quarter, compared to analyst estimates of $724.32 million. Bright Horizons Family Solutions had a return on equity of 14.62% and a net margin of 5.91%. Bright Horizons Family Solutions's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Analysts anticipate that Bright Horizons Family Solutions Inc. will post 3.61 EPS for the current fiscal year.

Bright Horizons Family Solutions Company 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.