James M. Lapeyre, Jr. Buys 16,100 Shares of Ion Geophysical Corp. (IO) Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 16,100 shares of the stock in a transaction on Tuesday, September 27th. The shares were acquired at an average price of $5.86 per share, for a total transaction of $94,346.00. Following the acquisition, the director now owns 157,773 shares of the company’s stock, valued at approximately $924,549.78. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Ion Geophysical Corp. (NYSE:IO) opened at 6.51 on Friday. The company’s market cap is $76.73 million. Ion Geophysical Corp. has a 1-year low of $2.55 and a 1-year high of $12.15. The stock has a 50 day moving average of $5.83 and a 200 day moving average of $6.76.
Ion Geophysical Corp. (NYSE:IO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, beating the 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 net margin of 42.51% and a negative return on equity of 85.96%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.05) earnings per share. On average, equities analysts forecast that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in IO. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in Ion Geophysical Corp. during the second quarter valued at $189,000. Pax World Management LLC bought a new stake in Ion Geophysical Corp. during the second quarter valued at $312,000. Spark Investment Management LLC bought a new stake in Ion Geophysical Corp. during the first quarter valued at $400,000. Oxford Asset Management boosted its stake in 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 bought a new stake in Ion Geophysical Corp. during the second quarter valued at $296,000. Institutional investors and hedge funds own 42.76% 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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