Insider Selling: TGC Industries CEO Sells 10,000 Shares of Stock (TGE)
TGC Industries (NYSE:TGE) CEO Wayne Whitener sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the sale, the chief executive officer now directly owns 5,000 shares of the company’s stock, valued at approximately $35,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of TGC Industries (NYSE:TGE) traded down 0.27% on Thursday, hitting $7.28. The stock had a trading volume of 35,903 shares. TGC Industries has a 52-week low of $6.31 and a 52-week high of $10.01. The stock’s 50-day moving average is $7.05 and its 200-day moving average is $7.92. The company has a market cap of $159.8 million and a P/E ratio of 62.93.
TGC Industries (NYSE:TGE) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.20. The company had revenue of $21.10 million for the quarter, compared to the consensus estimate of $36.83 million.
A number of analysts have recently weighed in on TGE shares. Analysts at Zacks upgraded shares of TGC Industries from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $7.30 price target on the stock. Separately, analysts at Sidoti initiated coverage on shares of TGC Industries in a research note to investors on Monday, December 16th. They set a “buy” rating on the stock. Finally, analysts at TheStreet downgraded shares of TGC Industries from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, November 5th.
TGC Industries, Inc (NYSE:TGE), with its wholly owned subsidiary, Eagle Canada, Inc, (Eagle Canada), is a provider of seismic data acquisition services throughout the continental United States and Canada.
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