Enviri Corporation $NVRI Stock Position Decreased by Clearline Capital LP

Clearline Capital LP cut its stake in shares of Enviri Corporation (NYSE:NVRI) by 29.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,282 shares of the company’s stock after selling 27,817 shares during the quarter. Clearline Capital LP owned 0.08% of Enviri worth $1,188,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NVRI. Pertento Partners LLP purchased a new stake in shares of Enviri in the third quarter valued at $43,542,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Enviri in the third quarter valued at $21,367,000. Hudson Bay Capital Management LP purchased a new stake in shares of Enviri in the fourth quarter valued at $26,880,000. Highbridge Capital Management LLC purchased a new stake in shares of Enviri in the fourth quarter valued at $26,802,000. Finally, Millennium Management LLC lifted its holdings in shares of Enviri by 4,621.0% in 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 in the last quarter. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Enviri Price Performance

Shares of NYSE:NVRI opened at $21.13 on Thursday. 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 Corporation has a 1 year low of $7.70 and a 1 year high of $21.91. The business has a fifty day simple moving average of $19.74 and a 200 day simple moving average of $18.94. The firm has a market cap of $593.81 million, a price-to-earnings ratio of -10.16 and a beta of 1.59.

Enviri (NYSE:NVRI) last announced its quarterly earnings data 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 return on equity of 8.59% and a negative net margin of 7.50%.The business had revenue of $549.80 million during the quarter, compared to analyst estimates of $465.37 million. During the same period last year, the company earned ($0.18) earnings per share. Enviri’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Enviri Corporation will post -0.45 earnings per share for the current fiscal year.

Enviri Dividend Announcement

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

Insider Activity

In other news, CFO Peter Francis Minan acquired 8,333 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $19.25 per share, for a total transaction of $160,410.25. Following the completion of the acquisition, the chief financial officer owned 16,434 shares in the company, valued at approximately $316,354.50. The trade was a 102.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVRI shares. Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Enviri in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Enviri in a report on Tuesday, April 21st. BMO Capital Markets increased their target price on Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Enviri to a “hold” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.