Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 12,200 shares of Ion Geophysical Corp. stock in a transaction dated Friday, September 23rd. The stock was purchased at an average cost of $5.82 per share, for a total transaction of $71,004.00. Following the purchase, the director now owns 157,773 shares of the company’s stock, valued at approximately $918,238.86. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Ion Geophysical Corp. (NYSE:IO) traded up 1.19% during midday trading on Monday, hitting $5.94. 24,434 shares of the stock traded hands. The company’s 50 day moving average price is $5.75 and its 200-day moving average price is $6.78. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $12.15. The stock’s market cap is $70.01 million.
Ion Geophysical Corp. (NYSE:IO) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.86) by $0.01. Ion Geophysical Corp. had a negative net margin of 42.51% and a negative return on equity of 85.96%. The company had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $38.90 million. During the same quarter in the previous year, the company posted ($4.05) EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Ion Geophysical Corp. will post ($7.24) EPS for the current year.
A number of large investors have recently made changes to their positions in the company. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Ion Geophysical Corp. during the second quarter valued at about $189,000. Pax World Management LLC acquired a new stake in shares of Ion Geophysical Corp. during the second quarter valued at about $312,000. Spark Investment Management LLC acquired a new stake in shares of Ion Geophysical Corp. during the first quarter valued at about $400,000. Oxford Asset Management boosted its stake 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 during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Ion Geophysical Corp. during the second quarter valued at about $296,000. 42.76% of the stock is currently owned by institutional investors.
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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