Ion Geophysical Corp. (IO) Director Buys $46,880.00 in Stock
Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. bought 8,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was purchased at an average price of $5.86 per share, for a total transaction of $46,880.00. Following the completion of the purchase, the director now directly owns 157,773 shares in the company, valued at approximately $924,549.78. The transaction was disclosed in a filing with the SEC, which is available through this link.
Ion Geophysical Corp. (NYSE:IO) opened at 5.70 on Wednesday. The firm’s market capitalization is $67.18 million. Ion Geophysical Corp. has a 1-year low of $2.55 and a 1-year high of $12.15. The company has a 50-day moving average of $5.69 and a 200-day moving average of $6.80.
Ion Geophysical Corp. (NYSE:IO) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.86) by $0.01. The firm earned $36.15 million during the quarter, compared to analysts’ expectations of $38.90 million. Ion Geophysical Corp. had a negative net margin of 42.51% and a negative return on equity of 85.96%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.05) earnings per share. On average, equities analysts predict that Ion Geophysical Corp. will post ($7.24) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TFS Capital LLC bought a new position in shares of Ion Geophysical Corp. during the second quarter worth $165,000. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Ion Geophysical Corp. during the second quarter worth $189,000. Paloma Partners Management Co bought a new position in shares of Ion Geophysical Corp. during the second quarter worth $232,000. Brookfield Asset Management Inc. bought a new position in shares of Ion Geophysical Corp. during the second quarter worth $235,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Ion Geophysical Corp. during the second quarter worth $296,000. Hedge funds and other institutional investors own 42.76% 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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