Dimensional Fund Advisors LP Raises Position in Geospace Technologies Co. (GEOS)
Dimensional Fund Advisors LP increased its stake in shares of Geospace Technologies Co. (NASDAQ:GEOS) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,941 shares of the oil and gas company’s stock after buying an additional 23,618 shares during the period. Dimensional Fund Advisors LP owned about 2.66% of Geospace Technologies worth $5,809,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Geospace Technologies by 5.6% in the first quarter. Geode Capital Management LLC now owns 109,010 shares of the oil and gas company’s stock valued at $1,769,000 after buying an additional 5,742 shares in the last quarter. Vanguard Group Inc. increased its position in Geospace Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 634,973 shares of the oil and gas company’s stock valued at $10,305,000 after buying an additional 53,427 shares in the last quarter. Principal Financial Group Inc. increased its position in Geospace Technologies by 4.5% in the first quarter. Principal Financial Group Inc. now owns 102,116 shares of the oil and gas company’s stock valued at $1,657,000 after buying an additional 4,374 shares in the last quarter. Tiedemann Wealth Management LLC increased its position in Geospace Technologies by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 12,300 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 825 shares in the last quarter. Finally, Airain ltd bought a new position in Geospace Technologies during the first quarter valued at approximately $501,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.
Shares of Geospace Technologies Co. (NASDAQ GEOS) traded up 0.13% during midday trading on Friday, hitting $15.51. 30,776 shares of the stock were exchanged. The stock’s 50-day moving average price is $14.71 and its 200-day moving average price is $15.54. Geospace Technologies Co. has a 1-year low of $13.08 and a 1-year high of $24.37. The firm’s market capitalization is $208.44 million.
Geospace Technologies (NASDAQ:GEOS) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by $0.71. The company had revenue of $14.20 million during the quarter. Geospace Technologies had a negative return on equity of 26.34% and a negative net margin of 101.28%. On average, analysts forecast that Geospace Technologies Co. will post ($0.75) EPS for the current year.
Separately, ValuEngine raised shares of Geospace Technologies from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd.
In related news, Director Richard F. Miles sold 3,000 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $15.68, for a total transaction of $47,040.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at $31,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard F. Miles sold 5,450 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $15.30, for a total value of $83,385.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $30,600. The disclosure for this sale can be found here. Corporate insiders own 3.47% of the company’s stock.
About Geospace Technologies
Geospace Technologies Corporation designs and manufactures instruments and equipment used by the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. The Company also designs and manufactures non-seismic products, including industrial products, offshore cables and imaging equipment.
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