Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 16,100 shares of Ion Geophysical Corp. stock in a transaction on Tuesday, September 27th. The shares were purchased at an average price of $5.86 per share, for a total transaction of $94,346.00. Following the completion of the acquisition, the director now directly owns 157,773 shares in the company, valued at $924,549.78. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Ion Geophysical Corp. (NYSE:IO) opened at 6.85 on Monday. The firm’s 50-day moving average price is $5.88 and its 200 day moving average price is $6.76. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $12.15. The stock’s market capitalization is $80.73 million.
Ion Geophysical Corp. (NYSE:IO) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.86) by $0.01. The business had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $38.90 million. Ion Geophysical Corp. had a negative return on equity of 85.96% and a negative net margin of 42.51%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($4.05) EPS. On average, equities analysts anticipate that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management boosted its position in shares of Ion Geophysical Corp. by 192.8% in the second quarter. Oxford Asset Management now owns 112,733 shares of the company’s stock valued at $702,000 after buying an additional 74,225 shares in the last quarter. Bridgeway Capital Management Inc. boosted its position in shares of Ion Geophysical Corp. by 148.1% in the second quarter. Bridgeway Capital Management Inc. now owns 109,150 shares of the company’s stock valued at $680,000 after buying an additional 65,150 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Ion Geophysical Corp. during the second quarter valued at $648,000. Spark Investment Management LLC boosted its position in shares of Ion Geophysical Corp. by 47.6% in the second quarter. Spark Investment Management LLC now owns 73,200 shares of the company’s stock valued at $456,000 after buying an additional 23,600 shares in the last quarter. Finally, Pax World Management LLC bought a new position in shares of Ion Geophysical Corp. during the second quarter valued at $312,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
About Ion Geophysical Corp.
ION Geophysical Corporation is a technology focused company that provides geophysical technology, services and solutions to the global oil and gas industry. The Company offers services and products through four segments: Solutions, Systems, Software and Ocean Bottom Services (OBS). The Company’s Solutions segment provides over two service activities: Ventures group and Imaging Services group.
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