BrightView Holdings, Inc. (NYSE:BV) Sees Significant Drop in Short Interest

BrightView Holdings, Inc. (NYSE:BV) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 4,580,000 shares, a drop of 7.7% from the October 31st total of 4,960,000 shares. Currently, 7.7% of the shares of the company are short sold. Based on an average daily volume of 517,100 shares, the short-interest ratio is presently 8.9 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Loop Capital upped their price objective on shares of BrightView from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. BTIG Research initiated coverage on BrightView in a report on Monday. They issued a “buy” rating and a $22.00 target price on the stock. Morgan Stanley initiated coverage on BrightView in a report on Thursday, August 22nd. They set an “equal weight” rating and a $16.00 price target for the company. William Blair raised BrightView from a “market perform” rating to an “outperform” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on BrightView from $11.30 to $12.90 and gave the stock a “sell” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BrightView currently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

BrightView Trading Up 1.3 %

NYSE:BV traded up $0.23 during mid-day trading on Monday, hitting $17.33. 551,411 shares of the company’s stock were exchanged, compared to its average volume of 618,175. The company has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $15.00. The firm has a market capitalization of $1.65 billion, a P/E ratio of 159.55 and a beta of 1.28. BrightView has a fifty-two week low of $7.74 and a fifty-two week high of $18.89. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.63.

BrightView (NYSE:BV) last announced its earnings results on Wednesday, November 13th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $728.70 million during the quarter, compared to analyst estimates of $723.01 million. BrightView had a return on equity of 7.65% and a net margin of 2.40%. BrightView’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, research analysts expect that BrightView will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other BrightView news, EVP Jonathan Mark Gottsegen sold 29,658 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $16.06, for a total transaction of $476,307.48. Following the transaction, the executive vice president now owns 100,354 shares in the company, valued at $1,611,685.24. This trade represents a 22.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BrightView

Institutional investors have recently modified their holdings of the company. Millburn Ridgefield Corp bought a new position in BrightView during the third quarter worth $45,000. Innealta Capital LLC acquired a new position in shares of BrightView in the 2nd quarter valued at about $102,000. FMR LLC boosted its position in shares of BrightView by 293.4% during the 3rd quarter. FMR LLC now owns 6,884 shares of the company’s stock valued at $108,000 after purchasing an additional 5,134 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in BrightView during the second quarter worth approximately $133,000. Finally, Quest Partners LLC acquired a new stake in BrightView during the third quarter worth approximately $153,000. 92.41% of the stock is 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.