Acadian Asset Management LLC Acquires 3,753 Shares of Civeo Co. (NYSE:CVEO)

Acadian Asset Management LLC lifted its holdings in shares of Civeo Co. (NYSE:CVEO) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,354 shares of the business services provider’s stock after purchasing an additional 3,753 shares during the period. Acadian Asset Management LLC owned about 0.54% of Civeo worth $1,674,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. York GP Ltd. bought a new stake in shares of Civeo during the 1st quarter worth $929,000. Lazard Asset Management LLC bought a new stake in Civeo in the 1st quarter valued at about $55,000. Bank of America Corp DE raised its stake in Civeo by 466.5% in the 4th quarter. Bank of America Corp DE now owns 1,082 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 891 shares during the period. Truist Financial Corp raised its stake in Civeo by 81.3% in the 1st quarter. Truist Financial Corp now owns 31,671 shares of the business services provider’s stock valued at $654,000 after acquiring an additional 14,203 shares during the period. Finally, Prescott Group Capital Management L.L.C. raised its stake in Civeo by 7.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 840,059 shares of the business services provider’s stock valued at $17,347,000 after acquiring an additional 55,071 shares during the period. 81.44% of the stock is currently owned by institutional investors.

Civeo Trading Up 1.2 %

Shares of Civeo stock opened at $18.34 on Friday. Civeo Co. has a 52-week low of $17.87 and a 52-week high of $36.88. The stock’s 50-day simple moving average is $19.06 and its 200 day simple moving average is $20.79. The stock has a market capitalization of $272.22 million, a P/E ratio of -16.52 and a beta of 2.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.64 and a current ratio of 1.71.

Civeo (NYSE:CVEO) last posted its earnings results on Friday, July 28th. The business services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The company had revenue of $178.84 million for the quarter, compared to analysts’ expectations of $173.59 million. Civeo had a negative net margin of 1.28% and a negative return on equity of 1.50%. As a group, research analysts anticipate that Civeo Co. will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Civeo in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

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.