Mad River Investors Sells 137,269 Shares of Civeo Corporation (NYSE:CVEO)

Mad River Investors trimmed its stake in shares of Civeo Corporation (NYSE:CVEO - Free Report) by 63.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,497 shares of the business services provider's stock after selling 137,269 shares during the period. Civeo accounts for 0.8% of Mad River Investors' portfolio, making the stock its 14th largest holding. Mad River Investors owned approximately 0.59% of Civeo worth $1,828,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CVEO. TCW Group Inc. grew its stake in Civeo by 4.2% during the fourth quarter. TCW Group Inc. now owns 780,217 shares of the business services provider's stock valued at $17,727,000 after acquiring an additional 31,157 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Civeo during the fourth quarter valued at $1,452,000. OFI Invest Asset Management purchased a new position in Civeo during the fourth quarter valued at $878,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Civeo by 25.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 72,415 shares of the business services provider's stock valued at $1,645,000 after acquiring an additional 14,583 shares in the last quarter. Finally, Boston Partners grew its stake in Civeo by 22.6% during the fourth quarter. Boston Partners now owns 139,434 shares of the business services provider's stock valued at $3,168,000 after acquiring an additional 25,726 shares in the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.

Civeo Stock Performance

Shares of NYSE:CVEO opened at $22.40 on Friday. Civeo Corporation has a 52 week low of $18.01 and a 52 week high of $28.92. The stock has a market capitalization of $301.36 million, a P/E ratio of -13.83 and a beta of 1.38. The firm has a fifty day simple moving average of $20.91 and a two-hundred day simple moving average of $22.25. The company has a quick ratio of 1.59, a current ratio of 1.66 and a debt-to-equity ratio of 0.40.

Civeo (NYSE:CVEO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.78) by $0.06. Civeo had a negative net margin of 3.30% and a negative return on equity of 7.23%. The business had revenue of $144.04 million during the quarter, compared to analysts' expectations of $150.86 million. On average, analysts expect that Civeo Corporation will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on CVEO. Stifel Nicolaus dropped their price objective on shares of Civeo from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Wall Street Zen cut shares of Civeo from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th.

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.

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