James M Lapeyre, Jr Owns Stake in Ion Geophysical Corp. (IO)
James M Lapeyre, Jr disclosed that they own a 9% stake in Ion Geophysical Corp. (NYSE:IO) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, October 5th. The investor owns 1,064,249 shares of the stock worth $7,066,613. The reporting parties listed on the disclosure included James M Lapeyre, Jr and Laitram, LLC IRS Identification No 760719479. The disclosure is available through Edgar at this hyperlink.
A number of other hedge funds and other institutional investors have also bought and sold shares of IO. TFS Capital LLC purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $165,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $189,000. Paloma Partners Management Co purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $232,000. Brookfield Asset Management Inc. purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $235,000. Finally, Wolverine Asset Management LLC purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $296,000. 41.70% of the stock is owned by hedge funds and other institutional investors.
Ion Geophysical Corp. (NYSE:IO) traded up 1.53% during mid-day trading on Wednesday, hitting $6.64. 83,100 shares of the stock traded hands. The firm’s market cap is $78.26 million. Ion Geophysical Corp. has a 52 week low of $2.55 and a 52 week high of $12.15. The firm’s 50-day moving average price is $5.94 and its 200-day moving average price is $6.74.
Ion Geophysical Corp. (NYSE:IO) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.85) EPS for the quarter, topping the consensus estimate of ($1.86) by $0.01. The business earned $36.15 million during the quarter, compared to the consensus estimate of $38.90 million. Ion Geophysical Corp. had a negative net margin of 42.51% and a negative return on equity of 85.96%. Ion Geophysical Corp.’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.05) EPS. On average, equities analysts forecast that Ion Geophysical Corp. will post ($7.28) earnings per share for the current fiscal year.
In other Ion Geophysical Corp. news, Director James M. Lapeyre, Jr. acquired 8,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $5.98 per share, with a total value of $47,840.00. Following the acquisition, the director now directly owns 157,773 shares of the company’s stock, valued at approximately $943,482.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James M. Lapeyre, Jr. acquired 13,100 shares of the business’s stock in a transaction on Wednesday, August 31st. The stock was acquired at an average cost of $5.96 per share, with a total value of $78,076.00. Following the acquisition, the director now directly owns 157,773 shares in the company, valued at $940,327.08. The disclosure for this purchase can be found here. Corporate insiders own 10.00% 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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