In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Envirostar Inc. (NYSEMKT:EVI) reported that Symmetric Capital Llc. has picked up 5,483,284 of common stock as of 2017-06-14.
The acquisition brings the aggregate amount owned by Symmetric Capital Llc. to a total of 5,483,284 representing a 48.6% stake in the company.
For those not familiar with the company, EnviroStar, Inc., through its subsidiary, Steiner-Atlantic Corp., distributes commercial and industrial laundry and dry cleaning equipment, and steam and hot water boilers manufactured by others; supplies replacement parts and accessories, and provides maintenance services to its customers, and designs and plans turnkey laundry, dry cleaning and boiler systems for its institutional, retail, industrial and commercial customers. The Company, through its subsidiary, DRYCLEAN USA License Corp. owns rights to the name DRYCLEAN USA, which it franchises and licenses to retail drycleaners in the United States, the Caribbean and Latin America. It sells a line of commercial and industrial laundry and dry cleaning equipment and steam and hot water boilers manufactured by others, as well as related replacement parts and accessories, and provides maintenance services. It also sells replacement parts and accessories for the products it sells and provides maintenance services to its customers.
A glance at Envirostar Inc. (NYSEMKT:EVI)’s key stats reveals a current market capitalization of $ 235.49 Million based on $10.37 Million shares outstanding and a price at last close of $24.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-01, Marks picked up 194,252 at a purchase price of $4.89. This brings their total holding to 1,022,495 as of the date of the filing.
On the sell side, the most recent transaction saw Steiner unload 4,750 shares at a sale price of $14.00. This brings their total holding to 500,100.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Envirostar Inc. (NYSEMKT:EVI) as things move forward to see if its progress aligns with these transactions.
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