Palisade Capital Management LP Takes $5.19 Million Position in BrightView Holdings, Inc. $BV

Palisade Capital Management LP purchased a new stake in shares of BrightView Holdings, Inc. (NYSE:BV) in the second quarter, Holdings Channel reports. The firm purchased 366,435 shares of the company’s stock, valued at approximately $5,192,000.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in BrightView by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock worth $93,000 after purchasing an additional 2,240 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of BrightView by 225.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock worth $94,000 after purchasing an additional 3,909 shares during the period. Glenmede Investment Management LP purchased a new position in shares of BrightView in the 3rd quarter worth about $139,000. Janney Montgomery Scott LLC bought a new position in BrightView during the first quarter valued at about $145,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in BrightView during the third quarter worth about $163,000. 92.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BrightView news, Director William L. Cornog acquired 50,000 shares of BrightView stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the purchase, the director owned 70,000 shares of the company’s stock, valued at approximately $787,500. This represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

BrightView Trading Up 2.1%

Shares of BrightView stock opened at $11.16 on Wednesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -44.66, a P/E/G ratio of 1.81 and a beta of 1.18. BrightView Holdings, Inc. has a 52-week low of $10.42 and a 52-week high of $15.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $13.17 and its 200 day simple moving average is $12.77.

BrightView (NYSE:BV) last issued its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.12). BrightView had a return on equity of 5.03% and a net margin of 0.74%.The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $726.13 million. During the same quarter in the prior year, the business earned $0.30 EPS. BrightView’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that BrightView Holdings, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on BV shares. Robert W. Baird set a $14.00 target price on shares of BrightView in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upgraded shares of BrightView from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $13.00 to $14.00 in a research note on Thursday, May 7th. Morgan Stanley lowered their price target on shares of BrightView from $14.00 to $12.50 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price target on shares of BrightView in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BrightView in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.10.

BrightView Company Profile

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.