Bright Horizons Family Solutions Inc (BFAM) Stake Lowered by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC decreased its position in shares of Bright Horizons Family Solutions Inc (NYSE:BFAM) by 38.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,485 shares of the company’s stock after selling 6,520 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Bright Horizons Family Solutions were worth $1,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BFAM. SG Americas Securities LLC bought a new position in shares of Bright Horizons Family Solutions in the first quarter worth about $102,000. Quantbot Technologies LP lifted its holdings in shares of Bright Horizons Family Solutions by 243.6% in the first quarter. Quantbot Technologies LP now owns 1,412 shares of the company’s stock worth $140,000 after acquiring an additional 1,001 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Bright Horizons Family Solutions by 61.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,953 shares of the company’s stock worth $195,000 after acquiring an additional 742 shares during the last quarter. Chicago Capital LLC bought a new position in shares of Bright Horizons Family Solutions in the second quarter worth about $201,000. Finally, CIBC Asset Management Inc bought a new position in shares of Bright Horizons Family Solutions in the first quarter worth about $201,000. 99.60% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Bright Horizons Family Solutions from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets increased their target price on shares of Bright Horizons Family Solutions from $114.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, August 6th. Citigroup cut shares of Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating in a report on Friday, August 3rd. They noted that the move was a valuation call. Bank of America increased their target price on shares of Bright Horizons Family Solutions from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Bright Horizons Family Solutions from $103.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $104.91.

Shares of Bright Horizons Family Solutions stock traded up $0.16 on Friday, hitting $110.33. The stock had a trading volume of 186,743 shares, compared to its average volume of 207,352. Bright Horizons Family Solutions Inc has a twelve month low of $77.68 and a twelve month high of $112.68. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.34 and a quick ratio of 0.38. The company has a market capitalization of $6.39 billion, a P/E ratio of 41.57, a P/E/G ratio of 2.52 and a beta of 0.07.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.02. Bright Horizons Family Solutions had a return on equity of 20.90% and a net margin of 8.77%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $486.63 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. equities analysts anticipate that Bright Horizons Family Solutions Inc will post 2.92 EPS for the current year.

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 3,600 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $101.22, for a total transaction of $364,392.00. Following the completion of the sale, the director now owns 64,218 shares of the company’s stock, valued at approximately $6,500,145.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elizabeth J. Boland sold 6,000 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $99.09, for a total transaction of $594,540.00. Following the sale, the chief financial officer now directly owns 140,113 shares of the company’s stock, valued at approximately $13,883,797.17. The disclosure for this sale can be found here. Insiders sold 43,704 shares of company stock valued at $4,611,539 in the last ninety days. 2.20% of the stock is currently owned by insiders.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

Recommended Story: Short Selling Stocks, A Beginner’s Guide

Institutional Ownership by Quarter for Bright Horizons Family Solutions (NYSE:BFAM)

Receive News & Ratings for Bright Horizons Family Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bright Horizons Family Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply