Engine Capital Management sold 426,184 shares of CVEO for $12.3M, reducing holdings by 84.6% to 77.6K shares.
Engine Capital Management, a 10% owner, executed 6 separate sales totaling 426,184 shares for $12,277,331.73 at a blended average price of $28.81, eliminating 84.6% of its pre-transaction position of 503,826 shares. The current stock price of $28.86 sits near the 52-week high of $28.99, having appreciated 16.6% over the past 30 days and 34.4% over 90 days. The company posted negative net income of $-455,000.00 in the latest quarter and reported full-year negative net income, alongside declining annual revenue growth of -2.7%. The substantial reduction in Engine Capital's ownership stake coincides with the stock trading at elevated levels relative to its historical range, though the underlying business fundamentals remain challenged.