HG Vora Capital Management LLC Acquires New Position in Enviri Corporation $NVRI

Key Points

• HG Vora Capital Management LLC has taken a new position in Enviri Corporation, purchasing 3.5 million shares valued at approximately $23.28 million, constituting 2.4% of their investment portfolio.
• Several other institutional investors increased their stakes in Enviri, with Brooklyn Investment Group growing its holdings by an astonishing 11,332.3% in the same quarter.
• Enviri recently received a downgrade from "hold" to "sell" by Wall Street Zen and reported a loss of ($0.22) per share in its latest quarterly earnings, missing estimates significantly.

HG Vora Capital Management LLC bought a new stake in shares of Enviri Corporation (NYSE:NVRI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,500,000 shares of the company's stock, valued at approximately $23,275,000. Enviri accounts for approximately 2.4% of HG Vora Capital Management LLC's portfolio, making the stock its 12th largest holding. HG Vora Capital Management LLC owned 4.36% of Enviri at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Graham Capital Management L.P. raised its holdings in shares of Enviri by 8.7% in the fourth quarter. Graham Capital Management L.P. now owns 18,069 shares of the company's stock valued at $139,000 after purchasing an additional 1,443 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Enviri by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,099 shares of the company's stock valued at $347,000 after purchasing an additional 1,572 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Enviri by 17.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,187 shares of the company's stock valued at $86,000 after purchasing an additional 1,631 shares during the last quarter. Corton Capital Inc. raised its holdings in shares of Enviri by 50.9% in the fourth quarter. Corton Capital Inc. now owns 16,001 shares of the company's stock valued at $123,000 after purchasing an additional 5,400 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Enviri by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 23,876 shares of the company's stock valued at $184,000 after purchasing an additional 7,325 shares during the last quarter. Institutional investors and hedge funds own 93.43% of the company's stock.

Enviri Stock Performance

Shares of NYSE:NVRI traded down $0.12 during midday trading on Monday, reaching $11.64. The company had a trading volume of 1,011,586 shares, compared to its average volume of 872,635. The company's 50 day moving average price is $9.66 and its 200 day moving average price is $7.96. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 3.55. The stock has a market cap of $938.93 million, a P/E ratio of -5.94 and a beta of 1.89. Enviri Corporation has a 52-week low of $4.72 and a 52-week high of $11.97.

Enviri (NYSE:NVRI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). The company had revenue of $562.25 million during the quarter, compared to analysts' expectations of $576.50 million. Enviri had a negative return on equity of 7.86% and a negative net margin of 7.02%.Enviri's quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Enviri has set its FY 2025 guidance at -0.520--0.300 EPS. Q3 2025 guidance at -0.100-0.01 EPS. As a group, sell-side analysts anticipate that Enviri Corporation will post -0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Enviri from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Enviri currently has an average rating of "Hold" and a consensus target price of $10.00.

About Enviri

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.