Allianz Asset Management GmbH Purchases Shares of 40,300 BrightView Holdings, Inc. (NYSE:BV)

Key Points

• Allianz Asset Management GmbH has acquired 40,300 shares of BrightView Holdings, Inc. for approximately $517,000, marking a significant investment in the company during the first quarter.
• Major shareholder Kkr Group Partnership L.P. sold 11.6 million shares at an average price of $14.40, resulting in a 35.01% decrease in their position, while retaining over 21 million shares valued at around $310 million.
• Analysts have varied views on BrightView, with target prices recently lowered by some analysts, reflecting a consensus rating of "Moderate Buy" and a target price of $17.82.

Allianz Asset Management GmbH purchased a new stake in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 40,300 shares of the company's stock, valued at approximately $517,000.

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in BrightView by 832.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,864 shares of the company's stock valued at $30,000 after purchasing an additional 1,664 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake 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 worth $37,000 after buying an additional 1,475 shares during the last quarter. CWM LLC boosted its stake in shares of BrightView by 58.7% in the first quarter. CWM LLC now owns 3,418 shares of the company's stock worth $44,000 after buying an additional 1,264 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of BrightView in the fourth quarter worth about $56,000. Finally, GAMMA Investing LLC boosted its stake in shares of BrightView by 933.1% in the first quarter. GAMMA Investing LLC now owns 8,089 shares of the company's stock worth $104,000 after buying an additional 7,306 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider owned 21,533,123 shares of the company's stock, valued at approximately $310,076,971.20. This represents a 35.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company's stock.

Analysts Set New Price Targets

BV has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen upgraded BrightView from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Loop Capital lowered their target price on BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.82.

BrightView Stock Performance

NYSE BV opened at $15.51 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -774.86 and a beta of 1.26. BrightView Holdings, Inc. has a twelve month low of $11.81 and a twelve month high of $18.89. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $15.87 and a 200 day moving average of $14.76.

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

Want to see what other hedge funds are holding BV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BrightView Holdings, Inc. (NYSE:BV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.