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

Penn Capital Management Company LLC cut its stake in shares of BrightView Holdings, Inc. (NYSE:BV) by 72.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 237,185 shares of the company’s stock after selling 632,816 shares during the quarter. Penn Capital Management Company LLC’s holdings in BrightView were worth $3,178,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Van Berkom & Associates Inc. purchased a new position in shares of BrightView in the third quarter worth about $61,076,000. Arrowstreet Capital Limited Partnership boosted its position in BrightView by 68.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,357,920 shares of the company’s stock valued at $22,609,000 after buying an additional 552,727 shares during the last quarter. Cooke & Bieler LP boosted its position in BrightView by 40.9% in the third quarter. Cooke & Bieler LP now owns 3,568,050 shares of the company’s stock valued at $47,812,000 after buying an additional 1,035,820 shares during the last quarter. Harvey Partners LLC increased its holdings in BrightView by 5.0% in the 3rd quarter. Harvey Partners LLC now owns 2,949,000 shares of the company’s stock worth $39,517,000 after buying an additional 141,000 shares during the period. Finally, Geode Capital Management LLC raised its position in BrightView by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,503,139 shares of the company’s stock worth $25,031,000 after buying an additional 118,340 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

BrightView Stock Up 1.0%

BV opened at $12.21 on Wednesday. The company has a fifty day moving average of $13.22 and a two-hundred day moving average of $13.04. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -610.25 and a beta of 1.26. BrightView Holdings, Inc. has a fifty-two week low of $11.06 and a fifty-two week high of $17.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26.

BrightView (NYSE:BV) last posted its earnings results on Tuesday, February 3rd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $614.70 million for the quarter, compared to analyst estimates of $589.91 million. BrightView had a net margin of 1.90% and a return on equity of 7.85%. BrightView’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. On average, research analysts expect that BrightView Holdings, Inc. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

BV has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of BrightView from $19.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Morgan Stanley boosted their price objective on BrightView from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. BTIG Research began coverage on BrightView in a research note on Monday, December 1st. They issued a “buy” rating and a $15.00 target price on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.10 target price on shares of BrightView in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on BrightView from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.68.

Insider Buying and Selling at BrightView

In other BrightView news, Director William L. Cornog bought 5,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were purchased at an average price of $13.46 per share, for a total transaction of $67,300.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $67,300. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

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.