American International Group Inc. Sells 1,571 Shares of Geospace Technologies Corporation (NASDAQ:GEOS)

American International Group Inc. cut its stake in Geospace Technologies Corporation (NASDAQ:GEOS) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,029 shares of the oil and gas company’s stock after selling 1,571 shares during the period. American International Group Inc. owned 0.06% of Geospace Technologies Corporation worth $130,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in Geospace Technologies Corporation during the first quarter valued at about $126,000. Tiedemann Wealth Management LLC raised its stake in Geospace Technologies Corporation by 7.2% in the first quarter. Tiedemann Wealth Management LLC now owns 12,300 shares of the oil and gas company’s stock valued at $200,000 after buying an additional 825 shares during the period. State of Tennessee Treasury Department increased its position in Geospace Technologies Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 12,424 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 1,875 shares in the last quarter. Comerica Bank increased its position in Geospace Technologies Corporation by 4.1% in the first quarter. Comerica Bank now owns 14,803 shares of the oil and gas company’s stock valued at $246,000 after buying an additional 581 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Geospace Technologies Corporation by 20.1% in the first quarter. Great West Life Assurance Co. Can now owns 19,112 shares of the oil and gas company’s stock valued at $310,000 after buying an additional 3,197 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Geospace Technologies Corporation (NASDAQ GEOS) opened at 15.26 on Friday. The stock’s market cap is $205.08 million. Geospace Technologies Corporation has a 52-week low of $13.08 and a 52-week high of $24.37. The firm’s 50-day moving average is $14.49 and its 200-day moving average is $15.82.

Geospace Technologies Corporation (NASDAQ:GEOS) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.38) by $0.71. Geospace Technologies Corporation had a negative net margin of 75.19% and a negative return on equity of 21.79%. The business had revenue of $14.20 million for the quarter. Equities research analysts predict that Geospace Technologies Corporation will post ($0.75) earnings per share for the current year.

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Several research firms recently commented on GEOS. Zacks Investment Research raised shares of Geospace Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. ValuEngine raised shares of Geospace Technologies Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd.

In related news, Director Richard F. Miles sold 5,450 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $15.30, for a total transaction of $83,385.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $30,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard F. Miles sold 3,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $15.68, for a total value of $47,040.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $31,360. The disclosure for this sale can be found here. Corporate insiders own 3.47% of the company’s stock.

About Geospace Technologies Corporation

Geospace Technologies Corporation designs and manufactures instruments and equipment used by the oil and gas industry to acquire seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs. The Company also designs and manufactures non-seismic products, including industrial products, offshore cables and imaging equipment.

Institutional Ownership by Quarter for Geospace Technologies Corporation (NASDAQ:GEOS)

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