Alliancebernstein L.P. Trims Stock Position in BrightView Holdings, Inc. $BV

Key Points

• Alliancebernstein L.P. has reduced its stake in BrightView Holdings, selling 132,877 shares, which is a 6.7% decline, leaving it with 1,843,386 shares valued at approximately $23.67 million.
• BrightView recently reported a quarterly earnings miss, posting an EPS of $0.30 compared to the expected $0.32, alongside a 4.1% year-over-year revenue decline to $708.3 million.
• Insider Amanda Marie Orders sold 70,000 shares, drastically reducing her ownership by 64.55%, intensifying scrutiny on insider activities within the company.

Alliancebernstein L.P. trimmed its position in BrightView Holdings, Inc. (NYSE:BV - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,843,386 shares of the company's stock after selling 132,877 shares during the quarter. Alliancebernstein L.P. owned about 1.93% of BrightView worth $23,669,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in BrightView by 58.7% during the 1st quarter. CWM LLC now owns 3,418 shares of the company's stock valued at $44,000 after buying an additional 1,264 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BrightView by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,094 shares of the company's stock valued at $529,000 after acquiring an additional 1,278 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of BrightView by 181.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,288 shares of the company's stock valued at $37,000 after purchasing an additional 1,475 shares in the last quarter. Principal Financial Group Inc. increased its position in BrightView by 3.2% in the first quarter. Principal Financial Group Inc. now owns 51,967 shares of the company's stock worth $667,000 after purchasing an additional 1,608 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in BrightView by 3.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 50,545 shares of the company's stock valued at $649,000 after purchasing an additional 1,700 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BV. Robert W. Baird dropped their price objective on shares of BrightView from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, July 2nd. Loop Capital dropped their price target on BrightView from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, July 3rd. Finally, Wall Street Zen cut BrightView from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.98.

Insider Buying and Selling at BrightView

In other news, EVP Amanda Marie Orders sold 70,000 shares of BrightView stock in a transaction on Monday, August 25th. The stock was sold at an average price of $14.78, for a total transaction of $1,034,600.00. Following the completion of the sale, the executive vice president directly owned 38,446 shares in the company, valued at approximately $568,231.88. This trade represents a 64.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.20% of the company's stock.

BrightView Trading Down 0.4%

Shares of NYSE:BV traded down $0.06 during trading hours on Tuesday, hitting $13.54. 895,940 shares of the company's stock traded hands, compared to its average volume of 805,282. The firm has a market capitalization of $1.28 billion, a P/E ratio of 451.33 and a beta of 1.29. The business has a fifty day moving average price of $15.06 and a 200-day moving average price of $14.70. BrightView Holdings, Inc. has a 1 year low of $11.81 and a 1 year high of $18.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.31.

BrightView (NYSE:BV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). BrightView had a return on equity of 8.76% and a net margin of 2.00%.The business had revenue of $708.30 million during the quarter, compared to analysts' expectations of $763.43 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Equities analysts expect that BrightView Holdings, Inc. will post 0.73 earnings per share for the current year.

BrightView 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.