So, Newtyn Management decided to throw a rather significant chunk of change – $43.31 million, to be precise – at Enviri Corporation. 2,906,420 shares, if you’re counting. Which, frankly, I always do. It’s a habit. A slightly obsessive one, perhaps. Don’t judge. Anyway, it’s enough to make Enviri a pretty big deal in their portfolio. 8.8% big. Which feels… optimistic. Let’s just say I’m not entirely convinced this isn’t a beautifully packaged distraction.
What’s Actually Going On?
They increased their holding in the fourth quarter. That’s the official story. The numbers have gone up, of course. A hefty 120% over the year. Which, in my experience, usually means someone, somewhere, is trying very hard to convince you something is worth more than it is. The fund’s position increased by $60.94 million – a blend of actual investment and, let’s be honest, a bit of market froth. It’s like watching a magician; you know there’s a trick, but you’re still momentarily impressed by the disappearing rabbit.
A Peek Under the Hood (And Why You Should Be Wary)
- Enviri now represents 8.8% of Newtyn’s reported assets. That’s… a commitment. Or a gamble. I’m leaning towards the latter.
- Here’s the top five, in case you’re wondering where else they’re throwing money:
- NYSE: AD: $91.15 million (9.7% of AUM)
- NASDAQ: INDV: $90.94 million (9.7% of AUM)
- NASDAQ: QDEL: $86.10 million (9.1% of AUM)
- NYSE: NVRI: $82.42 million (8.8% of AUM)
- NASDAQ: TBPH: $80.45 million (8.5% of AUM)
- As of February 17th, 2026, Enviri shares were trading at $19.00. A nice round number, isn’t it? Almost too nice.
The Business, Briefly (And With a Healthy Dose of Skepticism)
Enviri provides environmental solutions. Which sounds lovely, doesn’t it? They deal with industrial waste, abrasives, roofing granules… all the glamorous stuff. Revenue comes from long-term contracts and selling… well, byproducts, essentially. They serve anyone with something messy to get rid of. Iron, steel, hazardous waste… the usual suspects. It’s a business built on other people’s problems. And that, my friends, is always interesting.
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $19.00 |
| Market Capitalization | $1.53 billion |
| Revenue (TTM) | $2.24 billion |
| Net Income (TTM) | ($166.56 million) |
So, What Does This All Mean?
Turnaround stories. I live for the irony. They only work if the underlying business can actually, you know, stabilize. And that’s where things get tricky with Enviri. Third-quarter numbers were… flat. Revenue barely budged, and adjusted EBITDA took a hit. Clean Earth, their “record quarter” delivered, but Harsco Rail is still… struggling. A polite way of saying losing money.
Then, suddenly, Veolia Environnement announced they’d acquire Clean Energy for $3 billion. Cue the management touting “sum-of-the-parts value.” It’s always about the potential, isn’t it? Never the present. And that makes Newtyn’s purchase… curious. 8.8% of their assets? That’s a statement. A bold one. Or a spectacularly misguided one. I’m leaning towards the latter, naturally.
The stock is up 120% over the past year, fueled by acquisition buzz and… hope. It’s a potent combination. But hope, as any seasoned cynic will tell you, is rarely a sound investment strategy. So, enjoy the ride, if you must. Just don’t say I didn’t warn you.
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2026-02-22 23:52