Meros Investment Management LP Makes New Investment in Enviri Co. (NYSE:NVRI)

Meros Investment Management LP bought a new stake in shares of Enviri Co. (NYSE:NVRI - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 285,290 shares of the company's stock, valued at approximately $2,950,000. Meros Investment Management LP owned 0.36% of Enviri at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Paradigm Capital Management Inc. NY increased its holdings in Enviri by 3.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company's stock valued at $33,729,000 after purchasing an additional 132,000 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Enviri by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company's stock valued at $32,999,000 after acquiring an additional 383,395 shares during the last quarter. Creative Planning raised its position in shares of Enviri by 36.2% in the 3rd quarter. Creative Planning now owns 31,003 shares of the company's stock valued at $321,000 after acquiring an additional 8,242 shares during the period. Panagora Asset Management Inc. boosted its stake in Enviri by 6.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 439,925 shares of the company's stock worth $3,797,000 after acquiring an additional 26,129 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Enviri during the second quarter valued at approximately $1,124,000. Institutional investors own 93.43% of the company's stock.

Enviri Stock Down 0.9 %

Shares of NYSE NVRI traded down $0.07 during mid-day trading on Wednesday, reaching $7.62. 562,631 shares of the company's stock were exchanged, compared to its average volume of 477,884. The company has a current ratio of 1.30, a quick ratio of 0.99 and a debt-to-equity ratio of 2.72. The business has a fifty day simple moving average of $8.51 and a 200 day simple moving average of $9.46. Enviri Co. has a twelve month low of $6.57 and a twelve month high of $12.79. The firm has a market capitalization of $610.63 million, a price-to-earnings ratio of -6.25 and a beta of 2.18.

Enviri (NYSE:NVRI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $573.60 million during the quarter, compared to the consensus estimate of $613.63 million. During the same period in the previous year, the firm posted $0.05 EPS. The business's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that Enviri Co. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets reduced their price target on shares of Enviri from $13.00 to $10.00 and set a "market perform" rating on the stock in a research 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.