Trade Report: Today, Insider Buying: Ion Geophysical Corp. (IO) Director Acquires $135,121.00 in Stock

Today, Insider Buying: Ion Geophysical Corp. (IO) Director Acquires $135,121.00 in Stock

Ion Geophysical Corp. (NYSE:IO) Director James M. Lapeyre, Jr. acquired 19,900 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were bought at an average price of $6.79 per share, with a total value of $135,121.00. Following the transaction, the director now directly owns 155,273 shares in the company, valued at approximately $1,054,303.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Ion Geophysical Corp. (NYSE:IO) opened at 6.78 on Friday. The stock has a 50 day moving average price of $6.00 and a 200-day moving average price of $6.74. Ion Geophysical Corp. has a 12-month low of $2.55 and a 12-month high of $12.15. The stock’s market cap is $79.91 million.

Ion Geophysical Corp. (NYSE:IO) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.86) by $0.01. The company earned $36.15 million during the quarter, compared to analyst estimates 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 business posted ($4.05) earnings per share. Equities analysts anticipate that Ion Geophysical Corp. will post ($7.28) EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Osterweis Capital Management Inc. purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $648,000. Oxford Asset Management raised its stake 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. Bridgeway Capital Management Inc. raised its stake in Ion Geophysical Corp. by 148.1% in the second quarter. Bridgeway Capital Management Inc. now owns 109,150 shares of the company’s stock valued at $680,000 after buying an additional 65,150 shares during the last quarter. Pax World Management LLC purchased a new stake in Ion Geophysical Corp. during the second quarter valued at $312,000. Finally, Spark Investment Management LLC purchased a new stake in Ion Geophysical Corp. during the first quarter valued at $400,000. 41.70% of the stock is owned by institutional investors.

About Ion Geophysical Corp.

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