Brightline Capital Management LLC Buys Shares of 1,000,000 Enviri Co. (NYSE:NVRI)

Brightline Capital Management LLC acquired a new position in Enviri Co. (NYSE:NVRI) during the third quarter, Holdings Channel reports. The firm acquired 1,000,000 shares of the company’s stock, valued at approximately $10,340,000. Enviri makes up approximately 4.4% of Brightline Capital Management LLC’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Natixis Advisors LLC grew its position in Enviri by 3.4% in the second quarter. Natixis Advisors LLC now owns 31,334 shares of the company’s stock worth $270,000 after buying an additional 1,036 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of Enviri by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 388,870 shares of the company’s stock worth $4,021,000 after acquiring an additional 1,056 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Enviri by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,034 shares of the company’s stock worth $268,000 after acquiring an additional 1,273 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Enviri by 10.1% during the second quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock worth $130,000 after purchasing an additional 1,397 shares during the period. Finally, CWM LLC lifted its holdings in shares of Enviri by 37.1% during the third quarter. CWM LLC now owns 5,662 shares of the company’s stock valued at $59,000 after purchasing an additional 1,532 shares during the last quarter. 93.43% of the stock is owned by institutional investors and hedge funds.

Enviri Trading Up 0.7 %

NYSE NVRI traded up $0.05 on Wednesday, hitting $7.56. 18,633 shares of the stock were exchanged, compared to its average volume of 467,141. The company’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $9.52. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99. Enviri Co. has a 52-week low of $5.65 and a 52-week high of $12.79. The company has a market capitalization of $605.86 million, a price-to-earnings ratio of -6.11 and a beta of 2.22.

Enviri (NYSE:NVRI) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The business had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts predict that Enviri Co. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut their price objective on Enviri from $13.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, November 1st.

Enviri Profile

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.