MFS Reports 4.7% Stake in Bright Horizons, Down from Prior Filing

TL;DR

**MFS trimmed its stake in Bright Horizons to 4.7%, watch for other institutional moves.**

AI Summary

Massachusetts Financial Services Company (MFS) filed an amended SC 13G/A on February 9, 2024, disclosing its beneficial ownership in Bright Horizons Family Solutions Inc. As of December 29, 2023, MFS holds sole voting power over 2,437,000 shares of common stock, representing 4.7% of the company. This update indicates a slight decrease in their reported stake from a previous filing, which could signal a shift in MFS's investment strategy or portfolio rebalancing, potentially impacting investor sentiment for Bright Horizons.

Why It Matters

This filing shows that a major institutional investor, MFS, has slightly reduced its stake in Bright Horizons, which could be interpreted as a minor loss of confidence or a portfolio adjustment.

Risk Assessment

Risk Level: low — The change in ownership is minor and doesn't indicate a significant shift in the company's fundamentals or a major sell-off by a large investor.

Analyst Insight

Investors should note the slight reduction in MFS's stake but recognize it's a minor adjustment. Monitor future institutional filings for any larger shifts in ownership that could signal a more significant change in sentiment towards Bright Horizons.

Key Numbers

• 2,437,000 — Shares Beneficially Owned (This is the total number of shares of Bright Horizons common stock MFS has sole voting power over.)
• 4.7% — Percentage of Class (This represents MFS's current ownership percentage of Bright Horizons' common stock, indicating their significant but not controlling stake.)
• December 29, 2023 — Event Date (This is the specific date when MFS's ownership position triggered the requirement for this filing, providing a snapshot of their holdings.)

Key Players & Entities

• Massachusetts Financial Services Company (company) — the reporting person and institutional investor
• Bright Horizons Family Solutions Inc. (company) — the subject company whose shares are being reported
• 2,437,000 (dollar_amount) — shares beneficially owned by MFS
• 4.7% (dollar_amount) — percentage of class beneficially owned by MFS
• December 29, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• MFS will maintain a significant, but non-controlling, stake in Bright Horizons for the foreseeable future. (Massachusetts Financial Services Company) — medium confidence, target: December 29, 2024
• Bright Horizons' stock price will not be significantly impacted by this minor ownership change. (Bright Horizons Family Solutions Inc.) — high confidence, target: March 29, 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 15KB
• 0000912938-24-000241.txt ( ) — 17KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 ) * BRIGHT HORIZONS FAMILY SOLUTIONS INC (Name of Issuer) Common Stock (Title of Class of Securities) 109194100 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 109194100 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Massachusetts Financial Services Company ("MFS") 04-2747644 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] Not Applicable 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 2,437,183 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 2,579,619 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,579,619 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES Not Applicable 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.5% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer BRIGHT HORIZONS FAMILY SOLUTIONS INC (b) Address of Issuer's Principal Executive Offices 2 Wells Avenue, Newton, MA 02459 Item 2. (a) Name of Person Filing Massachusetts Financial Services Company (b) Address of Principal Business Office or, if None, Residence 111 Huntington Avenue, Boston, MA 02199 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 109194100 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 2,579,619 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities (b) Percent of Class: 4.5% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 2,437,183 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 2,579,619 (iv) shared power to dispose or to direct the disposition of 0 Item 5. Ownership of Five Percent or Less of Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [ X ] Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not Applicable Item 8. Identification and Classification of Members of the Group. Not Applicable Item 9. Notice of Dissolution of Group. Not Applicable Item 10.