Ion Geophysical Corp. (IO) Director James M. Lapeyre, Jr. Purchases 19,900 Shares
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 19,900 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was acquired at an average price of $6.79 per share, for a total transaction of $135,121.00. Following the completion of the transaction, the director now directly owns 155,273 shares in the company, valued at $1,054,303.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ion Geophysical Corp. (NYSE:IO) traded down 2.39% on Tuesday, reaching $6.54. 122,111 shares of the company’s stock were exchanged. The stock’s market capitalization is $77.08 million. Ion Geophysical Corp. has a 1-year low of $2.55 and a 1-year high of $12.15. The firm’s 50 day moving average is $5.92 and its 200 day moving average is $6.75.
Ion Geophysical Corp. (NYSE:IO) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.86) by $0.01. The company had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $38.90 million. Ion Geophysical Corp. had a negative return on equity of 85.96% and a negative net margin of 42.51%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted ($4.05) earnings per share. Analysts expect that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
Large investors have recently bought and sold shares of the stock. Osterweis Capital Management Inc. acquired a new position in shares of Ion Geophysical Corp. during the second quarter worth approximately $648,000. Oxford Asset Management raised its position 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 worth $702,000 after buying an additional 74,225 shares during the period. Bridgeway Capital Management Inc. raised its position 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. Pax World Management LLC acquired a new position in shares of Ion Geophysical Corp. during the second quarter worth approximately $312,000. Finally, Spark Investment Management LLC acquired a new position in shares of Ion Geophysical Corp. during the first quarter worth approximately $400,000. Institutional investors own 41.70% 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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