Penn Capital Management Company LLC Sells 632,816 Shares of BrightView Holdings, Inc. $BV

Key Points

• Penn Capital cut its BrightView stake by 72.7%, selling 632,816 shares and retaining 237,185 shares valued at about $3.18 million after the quarter.
• Institutional ownership remains very high at 92.41%, and other funds increased exposure—most notably Harvey Partners (2.949 million shares, ~$39.5M), Qube Research, Alyeska, and Punch & Associates.
• Analysts are mixed with a consensus rating of Hold and a $14.68 price target; the stock trades near $12.21 (market cap ~$1.15B) and the latest quarter showed an EPS miss (‑$0.01 vs $0.01 expected) but revenue beat at $614.7M.

Penn Capital Management Company LLC decreased its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 72.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,185 shares of the company's stock after selling 632,816 shares during the period. Penn Capital Management Company LLC owned approximately 0.25% of BrightView worth $3,178,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in BrightView during the 3rd quarter valued at approximately $679,000. Alyeska Investment Group L.P. boosted its position in shares of BrightView by 5.9% during the 3rd quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the company's stock valued at $6,030,000 after acquiring an additional 25,000 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of BrightView by 29.3% in the third quarter. Qube Research & Technologies Ltd now owns 440,735 shares of the company's stock valued at $5,906,000 after purchasing an additional 99,928 shares in the last quarter. Punch & Associates Investment Management Inc. increased its position in BrightView by 0.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,099,128 shares of the company's stock worth $14,728,000 after purchasing an additional 4,654 shares during the last quarter. Finally, Harvey Partners LLC raised its stake in BrightView by 5.0% during the third quarter. Harvey Partners LLC now owns 2,949,000 shares of the company's stock valued at $39,517,000 after purchasing an additional 141,000 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BV has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of BrightView from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. BTIG Research started coverage on BrightView in a research note on Monday, December 1st. They set a "buy" rating and a $15.00 price objective on the stock. CJS Securities raised BrightView to a "strong-buy" rating in a research note on Thursday, December 11th. The Goldman Sachs Group reissued a "sell" rating and set a $11.10 target price on shares of BrightView in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on BrightView from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.68.

BrightView Stock Up 1.0%

Shares of NYSE:BV opened at $12.21 on Wednesday. The firm has a market capitalization of $1.15 billion, a PE ratio of -610.25 and a beta of 1.26. The business has a 50 day simple moving average of $13.22 and a two-hundred day simple moving average of $13.04. BrightView Holdings, Inc. has a 1 year low of $11.06 and a 1 year high of $17.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26.

BrightView (NYSE:BV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). BrightView had a return on equity of 7.85% and a net margin of 1.90%.The business had revenue of $614.70 million during the quarter, compared to analysts' expectations of $589.91 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that BrightView Holdings, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling at BrightView

In related news, Director William L. Cornog bought 5,000 shares of the stock in a transaction dated Friday, February 6th. The stock was purchased at an average cost of $13.46 per share, with a total value of $67,300.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at $67,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company's stock.

About BrightView

BrightView Inc NYSE: BV is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company's core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView's service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.