Union Square Park Capital Management LLC Makes New Investment in Enviri Corporation $NVRI

Union Square Park Capital Management LLC bought a new position in shares of Enviri Corporation (NYSE:NVRI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 180,000 shares of the company’s stock, valued at approximately $3,226,000. Enviri comprises about 1.6% of Union Square Park Capital Management LLC’s holdings, making the stock its 15th biggest position. Union Square Park Capital Management LLC owned approximately 0.22% of Enviri as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pertento Partners LLP bought a new stake in shares of Enviri in the third quarter worth $43,542,000. Davidson Kempner Capital Management LP acquired a new position in Enviri in the third quarter valued at $21,367,000. Hudson Bay Capital Management LP acquired a new position in Enviri in the fourth quarter valued at $26,880,000. Highbridge Capital Management LLC acquired a new position in shares of Enviri during the fourth quarter valued at about $26,802,000. Finally, Millennium Management LLC raised its holdings in shares of Enviri by 4,621.0% during the third quarter. Millennium Management LLC now owns 1,347,373 shares of the company’s stock valued at $17,098,000 after purchasing an additional 1,318,833 shares during the period. Institutional investors own 93.43% of the company’s stock.

Enviri Stock Up 1.3%

NVRI opened at $20.97 on Wednesday. The company has a 50 day moving average of $19.70 and a 200 day moving average of $18.92. The company has a market cap of $589.45 million, a PE ratio of -10.08 and a beta of 1.59. Enviri Corporation has a 12 month low of $7.70 and a 12 month high of $21.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 5.66.

Enviri (NYSE:NVRI) last posted its earnings results on Monday, May 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.36. Enviri had a negative net margin of 7.50% and a negative return on equity of 8.59%. The business had revenue of $549.80 million for the quarter, compared to analysts’ expectations of $465.37 million. During the same period in the prior year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Enviri Corporation will post -0.45 EPS for the current year.

Enviri Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, January 1st were paid a $15.00 dividend. The ex-dividend date was Monday, June 1st.

Insider Buying and Selling at Enviri

In related news, CFO Peter Francis Minan acquired 8,333 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $19.25 per share, for a total transaction of $160,410.25. Following the transaction, the chief financial officer owned 16,434 shares in the company, valued at $316,354.50. This represents a 102.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVRI. Wall Street Zen raised shares of Enviri to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enviri in a research report on Tuesday, April 21st. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Enviri in a research report on Wednesday, February 25th. Finally, BMO Capital Markets upped their price objective on shares of Enviri from $19.00 to $19.50 and gave the stock a “market perform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.25.

Enviri Company 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.