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 business’s stock in a transaction dated Wednesday, October 12th. The shares were purchased 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 in the company, valued at approximately $1,019,213.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Ion Geophysical Corp. (NYSE:IO) opened at 6.15 on Friday. Ion Geophysical Corp. has a 52 week low of $2.55 and a 52 week high of $10.50. The company has a 50-day moving average of $6.09 and a 200 day moving average of $6.67. The company’s market cap is $72.48 million.
Ion Geophysical Corp. (NYSE:IO) last posted its earnings results on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, topping the consensus estimate of ($1.86) by $0.01. The firm earned $36.15 million during the quarter, compared to the consensus estimate 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 company’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned ($4.05) earnings per share. On average, equities analysts forecast that Ion Geophysical Corp. will post ($7.28) EPS for the current fiscal year.
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Several institutional investors have recently bought and sold shares of IO. Spark Investment Management LLC acquired a new position in Ion Geophysical Corp. during the first quarter valued at $400,000. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Ion Geophysical Corp. during the second quarter valued at $189,000. 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 valued at $702,000 after buying an additional 74,225 shares during the last quarter. Pax World Management LLC acquired a new position in Ion Geophysical Corp. during the second quarter valued at $312,000. Finally, TFS Capital LLC acquired a new position in Ion Geophysical Corp. during the second quarter valued at $165,000. Hedge funds and other institutional investors 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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