BrightView (NYSE:BV) Shares Gap Up – Here’s What Happened

BrightView Holdings, Inc. (NYSE:BV) shares gapped up before the market opened on Monday . The stock had previously closed at $13.43, but opened at $13.98. BrightView shares last traded at $13.58, with a volume of 93,869 shares trading hands.

Analysts Set New Price Targets

BV has been the topic of several research analyst reports. Morgan Stanley boosted their target price on BrightView from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Loop Capital boosted their target price on BrightView from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 15th. BTIG Research began coverage on BrightView in a research note on Monday, December 2nd. They set a “buy” rating and a $22.00 target price on the stock. Robert W. Baird upped their price target on BrightView from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price objective on BrightView from $11.30 to $12.90 and gave the stock a “sell” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BrightView has an average rating of “Moderate Buy” and a consensus target price of $17.11.

BrightView Price Performance

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $15.53 and a two-hundred day moving average price of $15.92. The stock has a market capitalization of $1.30 billion, a P/E ratio of 75.69 and a beta of 1.29.

Hedge Funds Weigh In On BrightView

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp increased its holdings in shares of BrightView by 74.0% during the fourth quarter. Mackenzie Financial Corp now owns 57,084 shares of the company’s stock valued at $913,000 after acquiring an additional 24,282 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of BrightView by 23.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,583 shares of the company’s stock valued at $2,280,000 after buying an additional 27,148 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BrightView during the fourth quarter valued at $1,438,000. State of Wyoming boosted its position in shares of BrightView by 132.6% during the fourth quarter. State of Wyoming now owns 16,379 shares of the company’s stock valued at $262,000 after buying an additional 9,338 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of BrightView by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,379 shares of the company’s stock valued at $262,000 after buying an additional 5,389 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

BrightView Company 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.