BrightView (NYSE:BV) Shares Gap Down on Analyst Downgrade

Shares of BrightView Holdings, Inc. (NYSE:BV - Get Free Report) gapped down before the market opened on Wednesday after Loop Capital lowered their price target on the stock from $21.00 to $20.00. The stock had previously closed at $16.85, but opened at $14.79. Loop Capital currently has a buy rating on the stock. BrightView shares last traded at $14.54, with a volume of 490,456 shares traded.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded BrightView from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Robert W. Baird reduced their target price on BrightView from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BrightView presently has an average rating of "Moderate Buy" and a consensus price target of $17.27.

Insider Buying and Selling at BrightView

In other news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of BrightView stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $14.40, for a total value of $167,040,000.00. Following the sale, the insider directly owned 21,533,123 shares of the company's stock, valued at $310,076,971.20. The trade was a 35.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BrightView

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of BrightView by 9.6% during the 4th quarter. Principal Financial Group Inc. now owns 50,359 shares of the company's stock worth $805,000 after purchasing an additional 4,430 shares during the last quarter. Telemark Asset Management LLC lifted its position in BrightView by 6.3% during the fourth quarter. Telemark Asset Management LLC now owns 850,000 shares of the company's stock worth $13,592,000 after buying an additional 50,000 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in BrightView by 5.7% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 358,436 shares of the company's stock worth $5,731,000 after buying an additional 19,382 shares during the last quarter. Monimus Capital Management LP acquired a new position in BrightView during the fourth quarter worth $1,413,000. Finally, Natixis Advisors LLC grew its holdings in BrightView by 24.1% in the 4th quarter. Natixis Advisors LLC now owns 92,117 shares of the company's stock valued at $1,473,000 after buying an additional 17,895 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

BrightView Stock Up 3.6%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.42. The business has a 50 day simple moving average of $15.71 and a 200-day simple moving average of $14.76. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -784.11 and a beta of 1.27.

BrightView (NYSE:BV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. BrightView had a net margin of 1.65% and a return on equity of 8.29%. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $643.29 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. BrightView's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that BrightView Holdings, Inc. will post 0.73 EPS for the current year.

BrightView Company Profile

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.