Here is the rundown on market activity for Ion Geophysical Corporation Com (NYSE:IO). Yesterday Director David H. Barr disclosed the purchase of 10,000 shares. The shares were bought on June 1st for an average price of $6.95. Barr now owns $142,009 of the stock according to the SEC filing. Christopher Theron Usher, EVP & COO, E&P OPER OPTIMINIZA acquired $8,957 worth of shares at an average price of $6.89 on March 15th. That brings Usher’s holdings to $136,760 per an SEC filing yesterday.
James M. Jr Lapeyre, Director disclosed the purchase of 25,000 shares of (IO). The shares were purchased at an average price of $6.76. The Director now owns $931,345 of the stock per the Form 4 SEC filing.
Here are a few additional firms who have increased or decreased their stake in (IO). Sterling Capital Management LLC cut its holdings by shedding 5,530 shares a decrease of 15.1% as of 06/30/2016. Sterling Capital Management LLC owns 31,041 shares worth $193,000. The total value of its holdings decreased 34.6%. As of the end of the quarter Gates Capital Management, Inc. had acquired 619,460 shares growing its stake by 2,477.8%. The value of the company’s investment in Ion Geophysical Corporation Com increased from $202,000 to $4,015,000 increasing 1,887.6% since the last quarter.
As of quarter end Bridgeway Capital Management Inc had bought a total of 65,150 shares growing its holdings by 148.1%. The value of the investment in Ion Geophysical Corporation Com went from $356,000 to $680,000 a change of $324,000 quarter to quarter. Jacobs Levy Equity Management, Inc reduced its investment by selling 3,906 shares a decrease of 7.2%. Jacobs Levy Equity Management, Inc now holds 50,123 shares valued at $312,000. The value of the position overall is down by 28.6%.
Barclays downgraded the stock and lowered the price target on March 19 cutting the price target from $5.00 to $4.00 and changing the rating from “Overweight” to “Equalweight”. On March 19 the stock rating was downgraded from “Overweight” to “Equalweight” and a price target of $4.00 was set by analysts at Barclays.
The company is up from yesterday’s close of $5.9. Company shares last traded at $6.14 which is a tad above the 50 day moving average of $5.77 and barely below the 200 day moving average of $6.77. The 50 day moving average was up $0.37 or +6.36% whereas the 200 day average was down by -9.31%.
As of the latest earnings report the EPS was $-7.86 and is projected to be $-7.24 for the current year with 11,786,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $-0.94 with next year’s EPS anticipated to be $-2.60.