374,194 Shares in Enviri Corporation $NVRI Bought by Newtyn Management LLC

Key Points

• Newtyn Management bought 374,194 Enviri shares worth approximately $8.2 million, giving it a 1.33% stake; institutional investors collectively own 93.43% of the company.
• Enviri reported weak quarterly results, with a $0.63 loss per share versus the expected $0.31 loss and revenue of $324 million versus estimates of $370.97 million. Revenue fell 66.7% year over year.
• NVRI shares opened at $22.34, while analysts maintain an overall “Hold” rating with a consensus price target of $24.50; company insiders also purchased shares during the latest quarter.

Newtyn Management LLC bought a new stake in shares of Enviri Corporation (NYSE:NVRI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 374,194 shares of the company's stock, valued at approximately $8,214,000. Enviri makes up approximately 1.0% of Newtyn Management LLC's holdings, making the stock its 24th largest holding. Newtyn Management LLC owned approximately 1.33% of Enviri as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVRI. Ancora Advisors LLC purchased a new stake in Enviri in the second quarter valued at about $875,000. Bluefin Capital Management LLC purchased a new stake in shares of Enviri during the second quarter worth about $326,000. Van ECK Associates Corp purchased a new stake in shares of Enviri during the second quarter worth about $209,000. Equitable Holdings Inc. acquired a new position in shares of Enviri during the second quarter valued at about $627,000. Finally, One68 Global Capital LLC acquired a new position in shares of Enviri during the second quarter valued at about $329,000. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

Enviri Stock Up 0.3%

Shares of NVRI opened at $22.34 on Monday. The stock has a 50-day moving average of $22.04 and a two-hundred day moving average of $20.27. Enviri Corporation has a one year low of $10.81 and a one year high of $24.20.

Enviri (NYSE:NVRI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.32). The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $370.97 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business's revenue for the quarter was down 66.7% on a year-over-year basis. On average, equities analysts expect that Enviri Corporation will post -1.55 earnings per share for the current year.

Insider Activity at Enviri

In other Enviri news, CFO Peter Francis Minan purchased 8,333 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $19.25 per share, for a total transaction of $160,410.25. Following the acquisition, the chief financial officer owned 16,434 shares in the company, valued at $316,354.50. This represents a 102.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carolann I. Haznedar purchased 4,875 shares of Enviri stock in a transaction on Monday, August 17th. The shares were acquired at an average cost of $20.46 per share, with a total value of $99,742.50. Following the completion of the transaction, the director directly owned 42,955 shares in the company, valued at $878,859.30. The trade was a 12.80% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 16,154 shares of company stock worth $319,868.

Analyst Ratings Changes

A number of research firms recently commented on NVRI. BMO Capital Markets lifted their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Enviri to a "hold" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised shares of Enviri from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Enviri currently has an average rating of "Hold" and a consensus price target of $24.50.

Enviri Profile

Enviri Inc NYSE: NVRI is a provider of environmental monitoring, data intelligence and sustainability solutions for critical infrastructure and industrial operations. The company integrates Internet of Things (IoT) sensor hardware, cloud-based analytics and field services to collect, process and visualize environmental data. Enviri’s platform supports real-time monitoring and historical trend analysis across water, air and wastewater streams to help clients meet regulatory requirements and manage environmental risk.

Enviri’s product suite includes ruggedized sensor networks, remote data loggers, automated sampling systems and a web-based analytics portal.

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