James M. Lapeyre, Jr. Buys 5,900 Shares of Ion Geophysical Corp. (IO) Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. purchased 5,900 shares of the company’s stock in a transaction dated Friday, October 14th. The shares were acquired at an average price of $6.08 per share, for a total transaction of $35,872.00. Following the purchase, the director now directly owns 157,773 shares in the company, valued at $959,259.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Ion Geophysical Corp. (NYSE:IO) opened at 5.925 on Wednesday. Ion Geophysical Corp. has a 52 week low of $2.55 and a 52 week high of $10.50. The stock’s market cap is $69.83 million. The stock’s 50 day moving average is $6.08 and its 200 day moving average is $6.61.
Ion Geophysical Corp. (NYSE:IO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $36.15 million for the quarter, compared to the consensus estimate of $38.90 million. During the same period in the prior year, the firm posted ($4.05) earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
A number of hedge funds have recently made changes to their positions in IO. Wolverine Asset Management LLC purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $296,000. Paloma Partners Management Co purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $232,000. Bridgeway Capital Management Inc. increased its stake 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 worth $680,000 after buying an additional 65,150 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $648,000. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth about $235,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.
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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