Millennium Management LLC Raises Position in Bright Horizons Family Solutions Inc (BFAM)

Millennium Management LLC boosted its stake in Bright Horizons Family Solutions Inc (NYSE:BFAM) by 335.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,720 shares of the company’s stock after buying an additional 200,138 shares during the quarter. Millennium Management LLC owned approximately 0.45% of Bright Horizons Family Solutions worth $25,899,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BFAM. Goldman Sachs Group Inc. lifted its stake in Bright Horizons Family Solutions by 25.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,251,082 shares of the company’s stock valued at $117,602,000 after buying an additional 254,336 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Bright Horizons Family Solutions in the 1st quarter valued at about $23,844,000. Jane Street Group LLC purchased a new position in Bright Horizons Family Solutions in the 1st quarter valued at about $20,255,000. Alliancebernstein L.P. lifted its stake in Bright Horizons Family Solutions by 9.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,176,000 shares of the company’s stock valued at $204,544,000 after buying an additional 182,060 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in Bright Horizons Family Solutions by 7,843.1% in the 1st quarter. Citadel Advisors LLC now owns 173,794 shares of the company’s stock valued at $17,331,000 after buying an additional 171,606 shares in the last quarter. 98.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on BFAM shares. Goldman Sachs Group started coverage on shares of Bright Horizons Family Solutions in a research note on Tuesday, March 27th. They issued a “neutral” rating and a $104.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Bright Horizons Family Solutions from $107.00 to $105.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 1st. ValuEngine raised shares of Bright Horizons Family Solutions from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research downgraded shares of Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Citigroup increased their price objective on shares of Bright Horizons Family Solutions from $107.00 to $112.00 and gave the company a “buy” rating in a report on Friday, May 4th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Bright Horizons Family Solutions has a consensus rating of “Buy” and a consensus target price of $103.73.

BFAM stock opened at $102.52 on Friday. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.30 and a beta of 0.08. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.38 and a quick ratio of 0.38. Bright Horizons Family Solutions Inc has a 12 month low of $75.65 and a 12 month high of $108.40.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Monday, April 30th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $463.66 million during the quarter, compared to the consensus estimate of $461.15 million. Bright Horizons Family Solutions had a net margin of 8.58% and a return on equity of 21.28%. Bright Horizons Family Solutions’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. sell-side analysts expect that Bright Horizons Family Solutions Inc will post 2.96 earnings per share for the current year.

In other news, Director Linda A. Mason sold 13,045 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $106.14, for a total transaction of $1,384,596.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elizabeth J. Boland sold 5,087 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $106.22, for a total transaction of $540,341.14. Following the sale, the chief financial officer now owns 138,026 shares of the company’s stock, valued at approximately $14,661,121.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,034 shares of company stock valued at $4,667,135. 2.20% of the stock is 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.

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

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