Mackenzie Financial Corp Increases Holdings in BrightView Holdings, Inc. (NYSE:BV)

Key Points

• Mackenzie Financial Corp increased its position in BrightView Holdings by 34.3%, owning approximately 76,665 shares valued at $984,000.
• Other institutional investors have also increased their stakes, with notable increases including Sterling Capital Management's 832.0% and GAMMA Investing's 933.1% in the first quarter.
• Major shareholder Kkr Group Partnership sold 11,600,000 shares at an average price of $14.40, representing a 35.01% decrease in their position.

Mackenzie Financial Corp raised its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 34.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,665 shares of the company's stock after purchasing an additional 19,581 shares during the period. Mackenzie Financial Corp owned about 0.08% of BrightView worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its position in BrightView by 832.0% during the fourth 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 period. Tower Research Capital LLC TRC raised its position 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 buying an additional 1,475 shares during the last quarter. CWM LLC grew its position in shares of BrightView by 58.7% in the first quarter. CWM LLC now owns 3,418 shares of the company's stock valued at $44,000 after purchasing an additional 1,264 shares in the last quarter. NewEdge Advisors LLC acquired a new position in BrightView in the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC grew its holdings in shares of BrightView by 933.1% during the 1st quarter. GAMMA Investing LLC now owns 8,089 shares of the company's stock worth $104,000 after purchasing an additional 7,306 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the business'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 $310,076,971.20. The trade was a 35.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by insiders.

BrightView Price Performance

BV traded up $0.13 during trading on Wednesday, hitting $16.25. The company's stock had a trading volume of 1,328,500 shares, compared to its average volume of 737,127. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -811.84 and a beta of 1.26. BrightView Holdings, Inc. has a 12 month low of $11.81 and a 12 month high of $18.89. The firm's 50 day moving average price is $15.86 and its two-hundred day moving average price is $14.76.

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

Wall Street Analyst Weigh In

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

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.