ClearAlpha Technologies LP Buys Shares of 16,203 BrightView Holdings, Inc. (NYSE:BV)

ClearAlpha Technologies LP purchased a new position in BrightView Holdings, Inc. (NYSE:BV) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,203 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in BrightView by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 4,031,524 shares of the company’s stock valued at $47,975,000 after purchasing an additional 185,327 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of BrightView by 28.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,140,676 shares of the company’s stock worth $41,772,000 after buying an additional 695,987 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of BrightView in the second quarter valued at approximately $13,086,000. Telemark Asset Management LLC lifted its stake in shares of BrightView by 14.3% during the third quarter. Telemark Asset Management LLC now owns 800,000 shares of the company’s stock valued at $12,592,000 after buying an additional 100,000 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in BrightView during the second quarter worth approximately $9,857,000. 92.41% of the stock is owned by institutional investors and hedge funds.

BrightView Stock Performance

BrightView stock opened at $17.33 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.44 and a quick ratio of 1.44. BrightView Holdings, Inc. has a 12 month low of $7.74 and a 12 month high of $18.89. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 157.55 and a beta of 1.28. The stock’s 50-day moving average is $16.51 and its 200-day moving average is $15.00.

BrightView (NYSE:BV) last announced its quarterly earnings results on Wednesday, November 13th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. BrightView had a net margin of 2.40% and a return on equity of 7.65%. The firm had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $723.01 million. During the same period in the previous year, the company posted $0.14 earnings per share. BrightView’s revenue was down 2.0% compared to the same quarter last year. Equities analysts anticipate that BrightView Holdings, Inc. will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jonathan Mark Gottsegen sold 29,658 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $16.06, for a total transaction of $476,307.48. Following the sale, the executive vice president now directly owns 100,354 shares in the company, valued at approximately $1,611,685.24. This trade represents a 22.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BTIG Research assumed coverage on BrightView in a report on Monday. They issued a “buy” rating and a $22.00 price target for the company. Jefferies Financial Group upgraded BrightView from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $17.00 in a research note on Wednesday, August 21st. Robert W. Baird raised 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. William Blair upgraded BrightView from a “market perform” rating to an “outperform” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group increased their price objective on shares of BrightView from $11.30 to $12.90 and gave the stock a “sell” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

About BrightView

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.