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

BrightView Holdings, Inc. (NYSE:BV)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.02, but opened at $13.53. BrightView shares last traded at $13.30, with a volume of 31,619 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BV shares. Morgan Stanley increased their price objective on BrightView from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. BTIG Research began coverage on BrightView in a research note on Monday, December 2nd. They issued a “buy” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.41.

BrightView Price Performance

The stock has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $15.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $1.27 billion, a PE ratio of 73.61 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BV. Principal Financial Group Inc. acquired a new position in shares of BrightView during the 3rd quarter valued at about $723,000. GSA Capital Partners LLP acquired a new position in shares of BrightView during the 3rd quarter valued at about $404,000. Natixis Advisors LLC increased its holdings in shares of BrightView by 49.1% during the 3rd quarter. Natixis Advisors LLC now owns 74,222 shares of the company’s stock valued at $1,168,000 after acquiring an additional 24,443 shares during the last quarter. Quest Partners LLC acquired a new position in shares of BrightView during the 3rd quarter valued at about $153,000. Finally, Intech Investment Management LLC acquired a new position in shares of BrightView during the 3rd quarter valued at about $251,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

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.