Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 25,100 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were acquired at an average cost of $6.64 per share, with a total value of $166,664.00. Following the completion of the purchase, the director now owns 157,773 shares in the company, valued at approximately $1,047,612.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Ion Geophysical Corp. (NYSE:IO) opened at 6.45 on Monday. The firm’s market cap is $76.02 million. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $11.10. The company has a 50 day moving average price of $6.01 and a 200-day moving average price of $6.72.
Ion Geophysical Corp. (NYSE:IO) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.85) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.86) by $0.01. The business earned $36.15 million during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned ($4.05) earnings per share. Analysts expect that Ion Geophysical Corp. will post ($7.28) EPS for the current year.
A number of institutional investors have recently bought and sold shares of IO. Osterweis Capital Management Inc. purchased a new position in Ion Geophysical Corp. during the second quarter worth approximately $648,000. Oxford Asset Management increased its position 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 period. Bridgeway Capital Management Inc. increased 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 last quarter. Pax World Management LLC bought a new position in shares of Ion Geophysical Corp. during the second quarter worth approximately $312,000. Finally, Spark Investment Management LLC bought a new position in shares of Ion Geophysical Corp. during the first quarter worth approximately $400,000. Institutional investors and hedge funds 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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