American Century Companies Inc. Acquires 40,361 Shares of Civeo Corporation $CVEO

Key Points

• American Century Companies Inc. increased its stake in Civeo Corporation by 10.1%, acquiring an additional 40,361 shares for a total of 438,374 shares valued at approximately $10.08 million.
• Civeo reported a negative earnings per share (EPS) of ($0.25) for the last quarter, missing the consensus estimate, and set a FY 2025 guidance at -0.58 EPS.
• Institutional investors own about 81.44% of Civeo's stock, indicating strong interest from larger investment entities in the company's shares.

American Century Companies Inc. lifted its holdings in Civeo Corporation (NYSE:CVEO - Free Report) by 10.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 438,374 shares of the business services provider's stock after buying an additional 40,361 shares during the quarter. American Century Companies Inc. owned approximately 3.26% of Civeo worth $10,083,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. acquired a new stake in shares of Civeo during the first quarter worth approximately $1,070,000. TCW Group Inc. grew its holdings in shares of Civeo by 2.0% in the 1st quarter. TCW Group Inc. now owns 795,845 shares of the business services provider's stock worth $18,304,000 after purchasing an additional 15,628 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Civeo during the 4th quarter worth about $386,000. Man Group plc lifted its position in Civeo by 108.0% during the 4th quarter. Man Group plc now owns 71,597 shares of the business services provider's stock valued at $1,627,000 after purchasing an additional 37,173 shares during the period. Finally, Meros Investment Management LP increased its stake in shares of Civeo by 28.9% in the 4th quarter. Meros Investment Management LP now owns 109,761 shares of the business services provider's stock valued at $2,494,000 after acquiring an additional 24,637 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company's stock.

Civeo Price Performance

CVEO traded down $0.24 during trading on Monday, reaching $23.73. 56,796 shares of the company were exchanged, compared to its average volume of 69,630. The company's 50-day moving average is $23.59 and its two-hundred day moving average is $22.33. The company has a market cap of $297.75 million, a price-to-earnings ratio of -9.76 and a beta of 1.30. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.81. Civeo Corporation has a 12-month low of $18.01 and a 12-month high of $28.92.

Civeo (NYSE:CVEO - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $162.69 million for the quarter, compared to the consensus estimate of $166.38 million. During the same quarter last year, the company posted $0.57 earnings per share. Civeo has set its FY 2025 guidance at EPS. Research analysts forecast that Civeo Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Civeo from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $27.00.

Civeo Profile

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.