Insider Buying: Ion Geophysical Corp. (IO) Director Buys $166,664.00 in Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 25,100 shares of Ion Geophysical Corp. stock in a transaction on Wednesday, October 5th. The shares were bought at an average price of $6.64 per share, for a total transaction of $166,664.00. Following the acquisition, the director now owns 157,773 shares of the company’s stock, valued at approximately $1,047,612.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ion Geophysical Corp. (NYSE:IO) opened at 6.76 on Tuesday. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $10.50. The stock’s 50 day moving average price is $6.04 and its 200 day moving average price is $6.68. The company’s market cap is $79.67 million.
Ion Geophysical Corp. (NYSE:IO) last issued its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.86) by $0.01. Ion Geophysical Corp. had a negative return on equity of 85.96% and a negative net margin of 42.51%. The business earned $36.15 million during the quarter, compared to analysts’ expectations of $38.90 million. During the same quarter in the prior year, the firm earned ($4.05) EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
A number of institutional investors have recently modified their holdings of IO. 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 worth $456,000 after buying an additional 23,600 shares during the last quarter. TFS Capital LLC purchased a new position in shares of Ion Geophysical Corp. during the second quarter worth about $165,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Ion Geophysical Corp. during the second quarter worth about $189,000. Paloma Partners Management Co purchased a new position in shares of Ion Geophysical Corp. during the second quarter worth about $232,000. Finally, Brookfield Asset Management Inc. purchased a new position in shares of Ion Geophysical Corp. during the second quarter worth about $235,000. 41.70% of the stock is owned by institutional investors and hedge funds.
Ion Geophysical Corp. Company Profile
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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