Kintayl Capital LP Invests $1.21 Million in Enviri Corporation $NVRI

Key Points

• Kintayl Capital acquired 55,281 Enviri shares worth approximately $1.21 million, representing about 0.20% of the company. Institutional investors and hedge funds collectively own 93.43% of NVRI.
• Enviri reported a quarterly loss of $0.63 per share, missing estimates by $0.32, while revenue fell 66.7% year over year to $324 million. Analysts expect a full-year loss of approximately $1.55 per share.
• NVRI shares opened at $21.73, within a 12-month range of $10.81 to $24.20. Analysts maintain an overall “Hold” rating, with an average price target of $24.50.

Kintayl Capital LP bought a new position in Enviri Corporation (NYSE:NVRI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 55,281 shares of the company's stock, valued at approximately $1,213,000. Kintayl Capital LP owned approximately 0.20% of Enviri at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVRI. BlackRock Inc. acquired a new position in shares of Enviri in the 2nd quarter valued at about $45,735,000. Davidson Kempner Capital Management LP acquired a new stake in shares of Enviri during the third quarter worth approximately $21,367,000. Hudson Bay Capital Management LP purchased a new position in Enviri during the fourth quarter valued at approximately $26,880,000. Highbridge Capital Management LLC purchased a new position in Enviri during the fourth quarter valued at approximately $26,802,000. Finally, Millennium Management LLC increased its stake in Enviri by 4,621.0% in the 3rd quarter. Millennium Management LLC now owns 1,347,373 shares of the company's stock valued at $17,098,000 after buying an additional 1,318,833 shares during the period. 93.43% of the stock is owned by institutional investors and hedge funds.

Enviri Stock Up 2.9%

Shares of NVRI opened at $21.73 on Wednesday. The firm's 50 day moving average price is $21.98 and its 200 day moving average price is $20.20. Enviri Corporation has a twelve month low of $10.81 and a twelve month high of $24.20.

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

Enviri Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 1st. Investors of record on Friday, January 1st were paid a $15.00 dividend. The ex-dividend date of this dividend was Monday, June 1st.

Insiders Place Their Bets

In related news, Director Carolann I. Haznedar bought 4,875 shares of the business's stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $20.46 per share, for a total transaction of $99,742.50. Following the completion of the acquisition, the director directly owned 42,955 shares in the company, valued at approximately $878,859.30. This represents a 12.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Francis Minan purchased 2,946 shares of Enviri stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $20.27 per share, with a total value of $59,715.42. Following the transaction, the chief financial officer directly owned 97,505 shares of the company's stock, valued at approximately $1,976,426.35. The trade was a 3.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 16,154 shares of company stock valued at $319,868 over the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVRI shares. BMO Capital Markets increased their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Enviri to a "hold" rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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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