Mackenzie Financial Corp Sells 1,292 Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM)

Mackenzie Financial Corp lessened its stake in Bright Horizons Family Solutions Inc. (NYSE:BFAM) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 743,326 shares of the company’s stock after selling 1,292 shares during the period. Mackenzie Financial Corp’s holdings in Bright Horizons Family Solutions were worth $70,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in shares of Bright Horizons Family Solutions by 301.8% during the fourth quarter. Morgan Stanley now owns 856,581 shares of the company’s stock worth $54,050,000 after buying an additional 643,410 shares during the period. Norges Bank purchased a new stake in shares of Bright Horizons Family Solutions during the 4th quarter worth about $35,706,000. Goldman Sachs Group Inc. grew its position in shares of Bright Horizons Family Solutions by 249.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 476,170 shares of the company’s stock valued at $63,183,000 after acquiring an additional 340,088 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bright Horizons Family Solutions by 9.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,509,737 shares of the company’s stock valued at $270,216,000 after purchasing an additional 309,359 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in Bright Horizons Family Solutions by 11.1% during the third quarter. William Blair Investment Management LLC now owns 1,913,192 shares of the company’s stock worth $155,849,000 after purchasing an additional 191,545 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BFAM shares. Barclays upgraded Bright Horizons Family Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $100.00 to $125.00 in a research report on Wednesday, February 28th. UBS Group reduced their price objective on shares of Bright Horizons Family Solutions from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Robert W. Baird lifted their target price on shares of Bright Horizons Family Solutions from $94.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. BMO Capital Markets upped their price target on shares of Bright Horizons Family Solutions from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. Finally, StockNews.com cut Bright Horizons Family Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $102.38.

Bright Horizons Family Solutions Stock Down 2.6 %

Shares of NYSE BFAM opened at $106.29 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average of $110.69 and a 200 day moving average of $96.53. Bright Horizons Family Solutions Inc. has a 12-month low of $71.65 and a 12-month high of $119.21. The stock has a market cap of $6.16 billion, a PE ratio of 83.69, a P/E/G ratio of 4.20 and a beta of 1.37.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. Bright Horizons Family Solutions had a return on equity of 12.24% and a net margin of 3.07%. The business had revenue of $615.65 million during the quarter, compared to analyst estimates of $588.63 million. As a group, sell-side analysts predict that Bright Horizons Family Solutions Inc. will post 2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 600 shares of Bright Horizons Family Solutions stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.88, for a total transaction of $59,328.00. Following the transaction, the chief operating officer now directly owns 38,753 shares of the company’s stock, valued at $3,831,896.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Elizabeth J. Boland sold 15,640 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total value of $1,779,362.80. Following the transaction, the chief financial officer now directly owns 89,983 shares in the company, valued at approximately $10,237,365.91. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Mary Lou Burke sold 600 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $98.88, for a total transaction of $59,328.00. Following the completion of the sale, the chief operating officer now owns 38,753 shares of the company’s stock, valued at approximately $3,831,896.64. The disclosure for this sale can be found here. Insiders sold 17,740 shares of company stock valued at $1,996,191 in the last three months. 1.28% of the stock is currently owned by insiders.

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.