Vestmark Advisory Solutions Inc. Purchases 39,301 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Key Points

• Vestmark Advisory Solutions Inc. has significantly increased its stake in Bright Horizons Family Solutions, purchasing an additional 39,301 shares, raising its ownership by 151.1% to a total of 65,308 shares valued at approximately $8.3 million.
• In the first quarter, several large investors also increased their positions, with JPMorgan Chase & Co. growing its stake by 23.8%, now owning nearly 4.4 million shares worth about $558 million.
• Despite recent sales by insiders, Bright Horizons Family Solutions reported a 9.2% increase in revenue year-over-year, with a quarterly EPS of $1.07, exceeding analysts' expectations of $1.00.

Vestmark Advisory Solutions Inc. raised its position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM - Free Report) by 151.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,308 shares of the company's stock after purchasing an additional 39,301 shares during the quarter. Vestmark Advisory Solutions Inc. owned 0.11% of Bright Horizons Family Solutions worth $8,297,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Bright Horizons Family Solutions by 3,914.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the company's stock valued at $107,000 after purchasing an additional 822 shares during the period. Trillium Asset Management LLC grew its stake in shares of Bright Horizons Family Solutions by 3.9% during the 1st quarter. Trillium Asset Management LLC now owns 295,631 shares of the company's stock valued at $37,557,000 after acquiring an additional 11,087 shares during the period. Nuveen LLC bought a new position in shares of Bright Horizons Family Solutions during the 1st quarter valued at approximately $30,151,000. Invesco Ltd. grew its stake in shares of Bright Horizons Family Solutions by 4.6% during the 1st quarter. Invesco Ltd. now owns 475,900 shares of the company's stock valued at $60,458,000 after acquiring an additional 20,784 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Bright Horizons Family Solutions by 23.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,391,997 shares of the company's stock valued at $557,959,000 after acquiring an additional 845,391 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BFAM. Morgan Stanley cut 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. Jefferies Financial Group downgraded Bright Horizons Family Solutions from a "buy" rating to a "hold" rating and cut their price objective 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 sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bright Horizons Family Solutions has a consensus rating of "Moderate Buy" and an average target price of $137.75.

Insider Transactions at Bright Horizons Family Solutions

In other news, CFO Elizabeth J. Boland sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $132.16, for a total transaction of $462,560.00. Following the sale, the chief financial officer directly owned 80,162 shares of the company's stock, valued at $10,594,209.92. This represents a 4.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Tocio sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $120.10, for a total value of $360,300.00. Following the sale, the director directly owned 18,233 shares in the company, valued at $2,189,783.30. This trade represents a 14.13% 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 over the last 90 days. Insiders own 1.21% of the company's stock.

Bright Horizons Family Solutions Stock Down 0.4%

NYSE BFAM opened at $119.08 on Friday. The stock's 50 day moving average is $119.13 and its 200 day moving average is $122.12. The company has a current ratio of 0.56, a quick ratio of 0.60 and a debt-to-equity ratio of 0.57. Bright Horizons Family Solutions Inc. has a 12 month low of $103.75 and a 12 month high of $141.90. The stock has a market cap of $6.77 billion, a PE ratio of 39.04 and a beta of 1.34.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $731.57 million for the quarter, compared to analysts' expectations of $724.32 million. During the same period in the previous year, the firm earned $0.88 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. Research analysts predict 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.

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