Mad River Investors Has $1.57 Million Stock Holdings in Civeo Corporation $CVEO

Mad River Investors lessened its holdings in Civeo Corporation (NYSE:CVEO) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,938 shares of the business services provider’s stock after selling 11,559 shares during the period. Civeo makes up 0.7% of Mad River Investors’ portfolio, making the stock its 14th biggest position. Mad River Investors owned about 0.51% of Civeo worth $1,569,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVEO. Engine Capital Management LP acquired a new position in Civeo in the first quarter worth about $30,777,000. Bridgeway Capital Management LLC raised its position in Civeo by 34.0% in the first quarter. Bridgeway Capital Management LLC now owns 253,973 shares of the business services provider’s stock worth $5,841,000 after purchasing an additional 64,470 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Civeo in the first quarter worth about $1,070,000. American Century Companies Inc. grew its stake in Civeo by 10.1% during the first quarter. American Century Companies Inc. now owns 438,374 shares of the business services provider’s stock worth $10,083,000 after buying an additional 40,361 shares during the last quarter. Finally, Man Group plc grew its stake in Civeo by 108.0% during the fourth quarter. Man Group plc now owns 71,597 shares of the business services provider’s stock worth $1,627,000 after buying an additional 37,173 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.

Civeo Price Performance

Shares of Civeo stock opened at $22.82 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $286.44 million, a price-to-earnings ratio of -9.39 and a beta of 1.30. Civeo Corporation has a 1-year low of $18.01 and a 1-year high of $28.92. The firm’s 50-day moving average price is $23.61 and its two-hundred day moving average price is $22.16.

Civeo (NYSE:CVEO) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Civeo had a negative net margin of 5.25% and a negative return on equity of 12.76%. The company had revenue of $162.69 million for the quarter, compared to the consensus estimate of $166.38 million. During the same period last year, the company earned $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. On average, equities analysts predict that Civeo Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Civeo from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Civeo currently has a consensus rating of “Buy” and an average price target of $27.00.

About Civeo

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.