Telemark Asset Management LLC Acquires 50,000 Shares of BrightView Holdings, Inc. (NYSE:BV)

Key Points

• Telemark Asset Management LLC has increased its stake in BrightView Holdings by 5.9%, now owning 900,000 shares valued at approximately $11.56 million.
• BrightView reported earnings per share (EPS) of $0.30 for the last quarter, missing analyst expectations, with a revenue of $708.3 million compared to forecasts of $763.43 million.
• Wall Street analysts have mixed ratings for BrightView, with an average target price of $17.82 and six analysts giving it a "buy" rating despite recent price adjustments.

Telemark Asset Management LLC grew its stake in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 5.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 900,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. BrightView makes up about 1.5% of Telemark Asset Management LLC's holdings, making the stock its 22nd largest position. Telemark Asset Management LLC owned about 0.94% of BrightView worth $11,556,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of BrightView by 5.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 23,937 shares of the company's stock worth $383,000 after buying an additional 1,240 shares during the last quarter. CWM LLC raised its stake in BrightView by 58.7% in the 1st quarter. CWM LLC now owns 3,418 shares of the company's stock valued at $44,000 after purchasing an additional 1,264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in BrightView by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,094 shares of the company's stock valued at $529,000 after purchasing an additional 1,278 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in BrightView by 181.4% in the 4th 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 during the last quarter. Finally, Principal Financial Group Inc. raised its stake in BrightView by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 51,967 shares of the company's stock valued at $667,000 after purchasing an additional 1,608 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $14.40, for a total transaction of $167,040,000.00. Following the transaction, the insider owned 21,533,123 shares in the company, valued at approximately $310,076,971.20. This trade represents a 35.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BV. Loop Capital dropped their price objective on shares of BrightView from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, July 3rd. Wall Street Zen downgraded shares of BrightView from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.82.

BrightView Stock Up 1.9%

NYSE BV traded up $0.28 during trading on Tuesday, reaching $15.27. 349,385 shares of the company's stock were exchanged, compared to its average volume of 737,233. The firm has a market capitalization of $1.45 billion, a PE ratio of 511.00 and a beta of 1.26. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62. BrightView Holdings, Inc. has a fifty-two week low of $11.81 and a fifty-two week high of $18.89. The company's fifty day simple moving average is $15.85 and its 200-day simple moving average is $14.74.

BrightView (NYSE:BV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $708.30 million during the quarter, compared to analyst estimates of $763.43 million. BrightView had a net margin of 2.00% and a return on equity of 8.76%. BrightView's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. Sell-side analysts predict that BrightView Holdings, Inc. will post 0.73 EPS 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.