Gagnon Securities LLC Makes New Investment in BrightView Holdings, Inc. $BV

Gagnon Securities LLC acquired a new position in BrightView Holdings, Inc. (NYSE:BV) in the 3rd quarter, Holdings Channel reports. The firm acquired 748,393 shares of the company’s stock, valued at approximately $7,484,000. BrightView accounts for approximately 1.3% of Gagnon Securities LLC’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of BrightView during the 2nd quarter valued at about $6,189,000. Bank of America Corp DE bought a new position in BrightView in the second quarter worth about $2,264,000. Bank of New York Mellon Corp bought a new position in BrightView in the second quarter worth about $3,952,000. BlackRock Inc. bought a new position in BrightView in the second quarter worth about $80,091,000. Finally, Algert Global LLC lifted its holdings in BrightView by 1,141.5% in the second quarter. Algert Global LLC now owns 476,749 shares of the company’s stock worth $6,756,000 after buying an additional 438,349 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

BrightView Stock Down 13.6%

NYSE:BV opened at $9.88 on Thursday. The firm’s 50-day moving average price is $10.84 and its 200-day moving average price is $12.26. The company has a market capitalization of $920.35 million, a PE ratio of -25.99, a P/E/G ratio of 1.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.28. BrightView Holdings, Inc. has a 1-year low of $9.52 and a 1-year high of $15.00.

BrightView (NYSE:BV) last issued its quarterly earnings results on Tuesday, November 10th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.08). BrightView had a net margin of 0.03% and a return on equity of 3.85%. The business had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $723.76 million. During the same period last year, the business earned $0.27 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that BrightView Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Recent BrightView Headlines

These are some of the BV headlines that stood out recently:

• Neutral Sentiment: Baird cut its price target from $14 to $12 but retained an “outperform” rating, leaving its target above the share price cited in the reports. BTIG also lowered its target to $12. Baird price-target report BTIG price-target report
• Negative Sentiment: BrightView reported Q4 revenue of $677.3 million, down 3.6% year over year and below estimates. Adjusted EPS of $0.18 also missed consensus, while the company reported a small net loss attributable to common shareholders. Q4 earnings report
• Negative Sentiment: Development Services revenue fell about 17.8% in Q4, more than offsetting growth in Maintenance and raising concerns about the company’s exposure to development and HOA-related demand. Development and HOA analysis

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BrightView in a research report on Thursday, October 29th. Zacks Research raised BrightView from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Robert W. Baird lowered their target price on BrightView from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday. Wall Street Zen cut BrightView from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Finally, Morgan Stanley dropped their price target on BrightView from $12.50 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.60.

About BrightView

BrightView Holdings, Inc. provides commercial landscaping services in the United States. Its services include landscape maintenance, design and development, enhancements, and tree care for properties such as corporate campuses, residential communities, and public spaces. The company also provides snow and ice management and related services to help clients maintain their properties throughout the year. BrightView was formed in 2014 through the combination of landscaping businesses Brickman and ValleyCrest.