Ion Geophysical Corp. (IO) Director Purchases $51,680.00 in Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. purchased 8,000 shares of the stock in a transaction that occurred on Wednesday, October 12th. The stock was bought at an average cost of $6.46 per share, with a total value of $51,680.00. Following the acquisition, the director now owns 157,773 shares of the company’s stock, valued at $1,019,213.58. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Ion Geophysical Corp. (NYSE:IO) opened at 6.15 on Friday. The firm’s 50-day moving average is $6.09 and its 200-day moving average is $6.67. The firm’s market cap is $72.48 million. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $10.50.
Ion Geophysical Corp. (NYSE:IO) last issued its quarterly 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 company earned $36.15 million during the quarter, compared to the consensus estimate of $38.90 million. During the same quarter in the prior year, the firm posted ($4.05) EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts predict that Ion Geophysical Corp. will post ($7.28) earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of IO. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth $189,000. Pax World Management LLC purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth $312,000. Spark Investment Management LLC purchased a new stake in shares of Ion Geophysical Corp. during the first quarter worth $400,000. Oxford Asset Management increased its stake 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. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Ion Geophysical Corp. during the second quarter worth $296,000. 41.70% of the stock is owned by 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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