Ion Geophysical Corp. (IO) Director Buys $130,928.00 in Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 19,600 shares of the stock in a transaction dated Monday, October 10th. The shares were bought at an average cost of $6.68 per share, with a total value of $130,928.00. Following the transaction, the director now directly owns 157,773 shares of the company’s stock, valued at $1,053,923.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Ion Geophysical Corp. (NYSE:IO) traded down 5.237% during midday trading on Tuesday, hitting $6.406. 30,510 shares of the stock traded hands. The firm has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.68. Ion Geophysical Corp. has a 52 week low of $2.55 and a 52 week high of $10.50. The stock’s market capitalization is $75.50 million.
Ion Geophysical Corp. (NYSE:IO) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share 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 analyst estimates of $38.90 million. During the same period in the previous year, the firm posted ($4.05) EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Ion Geophysical Corp. will post ($7.28) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in Ion Geophysical Corp. during the second quarter worth $189,000. Pax World Management LLC acquired a new stake in Ion Geophysical Corp. during the second quarter worth $312,000. Spark Investment Management LLC acquired a new stake in Ion Geophysical Corp. during the first quarter worth $400,000. Oxford Asset Management raised 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 worth $702,000 after buying an additional 74,225 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Ion Geophysical Corp. during the second quarter worth $296,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.
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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