BrightView Holdings, Inc. $BV Shares Sold by Redmond Asset Management LLC

Key Points

• Redmond Asset Management cut its BrightView stake by 66.4% in the third quarter, selling 115,000 shares and retaining 58,219 shares worth approximately $582,000.
• Other institutional investors made mixed moves, while institutions collectively own 92.41% of BrightView. A company director also purchased 50,000 shares at $11.25 each.
• BrightView reported quarterly EPS of $0.17, below the $0.29 consensus estimate, while revenue of $717.6 million also missed expectations. Shares opened at $10.84, and analysts’ consensus rating was “Hold” with a $13.93 target price.

Redmond Asset Management LLC reduced its stake in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 66.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,219 shares of the company's stock after selling 115,000 shares during the quarter. Redmond Asset Management LLC owned 0.06% of BrightView worth $582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Inspire Investing LLC boosted its stake in shares of BrightView by 31.8% during the third quarter. Inspire Investing LLC now owns 63,317 shares of the company's stock valued at $633,000 after purchasing an additional 15,262 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of BrightView in the second quarter valued at about $182,000. Engineers Gate Manager LP increased its position in shares of BrightView by 118.9% in the second quarter. Engineers Gate Manager LP now owns 34,800 shares of the company's stock valued at $493,000 after acquiring an additional 18,900 shares during the period. Empowered Funds LLC bought a new position in shares of BrightView during the second quarter valued at about $6,189,000. Finally, AWH Capital L.P. bought a new position in shares of BrightView during the second quarter valued at about $6,022,250. 92.41% of the stock is owned by institutional investors.

BrightView Price Performance

Shares of BV opened at $10.84 on Thursday. BrightView Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $15.00. The company has a market capitalization of $1.01 billion, a P/E ratio of -43.38, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The firm has a 50 day moving average of $10.77 and a 200 day moving average of $12.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.71.

BrightView (NYSE:BV - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $726.13 million. BrightView had a net margin of 0.74% and a return on equity of 5.03%. BrightView's revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS. As a group, equities research analysts anticipate that BrightView Holdings, Inc. will post 0.40 earnings per share for the current fiscal year.

Insider Transactions at BrightView

In other news, Director William Cornog purchased 50,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the completion of the transaction, the director directly owned 70,000 shares in the company, valued at $787,500. This trade represents a 250.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BrightView in a research note on Friday, July 31st. Morgan Stanley cut their price objective on BrightView from $12.50 to $11.50 and set an "equal weight" rating on the stock in a research report on Tuesday, October 13th. Wall Street Zen raised BrightView from a "sell" rating to a "hold" rating in a research report on Saturday, October 24th. Zacks Research upgraded shares of BrightView from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Finally, Robert W. Baird set a $14.00 target price on shares of BrightView in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $13.93.

BrightView Company Profile

BrightView Holdings, Inc NYSE: BV is a provider of commercial landscaping services in the United States. Through its maintenance operations, the company helps businesses, government facilities, sports venues, education campuses, healthcare properties and other organizations manage and maintain outdoor spaces.

BrightView's services include landscape design and development, ongoing landscape maintenance, tree care, irrigation management, water conservation and snow and ice removal. Its landscape development work can include the installation of plants, turf, hardscapes, irrigation systems and other outdoor features, while its maintenance services are intended to support the appearance, health and functionality of managed properties.

The company was formed in 2014 through the combination of Brickman and ValleyCrest, two established landscaping businesses, and became a publicly traded company in 2018.

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