Bright Horizons Family Solutions Inc. (BFAM) Stake Lessened by BlackRock Inc.

BlackRock Inc. lowered its position in shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 19.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,212,308 shares of the company’s stock after selling 530,715 shares during the period. BlackRock Inc. owned approximately 3.75% of Bright Horizons Family Solutions worth $170,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BFAM. Public Employees Retirement Association of Colorado acquired a new stake in shares of Bright Horizons Family Solutions during the 2nd quarter worth approximately $123,000. BNP Paribas Arbitrage SA boosted its position in shares of Bright Horizons Family Solutions by 83.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,621 shares of the company’s stock worth $190,000 after purchasing an additional 1,193 shares during the period. Connable Office Inc. purchased a new position in shares of Bright Horizons Family Solutions during the 2nd quarter worth approximately $208,000. Comerica Bank purchased a new position in shares of Bright Horizons Family Solutions during the 2nd quarter worth approximately $230,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Bright Horizons Family Solutions during the 1st quarter worth approximately $256,000. Institutional investors and hedge funds own 97.08% of the company’s stock.

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $79.98, for a total transaction of $79,980.00. Following the completion of the sale, the chief operating officer now directly owns 32,266 shares in the company, valued at $2,580,634.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elizabeth J. Boland sold 29,681 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $78.95, for a total transaction of $2,343,314.95. Following the sale, the chief financial officer now owns 141,491 shares of the company’s stock, valued at $11,170,714.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,763 shares of company stock valued at $4,920,470. 2.90% of the stock is owned by insiders.

A number of equities analysts recently weighed in on BFAM shares. BidaskClub cut shares of Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research cut shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Citigroup Inc. started coverage on shares of Bright Horizons Family Solutions in a research report on Tuesday, July 18th. They set a “buy” rating and a $90.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $85.00 price objective (up previously from $83.00) on shares of Bright Horizons Family Solutions in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $85.83.

Bright Horizons Family Solutions Inc. (NYSE:BFAM) opened at 85.29 on Thursday. The stock has a market cap of $5.05 billion, a PE ratio of 45.51 and a beta of 0.14. Bright Horizons Family Solutions Inc. has a 52-week low of $59.00 and a 52-week high of $88.13. The company’s 50 day moving average is $82.14 and its 200-day moving average is $78.08.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Bright Horizons Family Solutions had a net margin of 6.91% and a return on equity of 19.19%. The company had revenue of $445.55 million during the quarter, compared to the consensus estimate of $443.90 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Bright Horizons Family Solutions’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Bright Horizons Family Solutions Inc. will post $2.64 earnings per share for the current year.

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Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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

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