Gate City Capital Management LLC Takes $4.27 Million Position in Geospace Technologies Co. (NASDAQ:GEOS)

Gate City Capital Management LLC purchased a new stake in Geospace Technologies Co. (NASDAQ:GEOSFree Report) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 329,470 shares of the oil and gas company’s stock, valued at approximately $4,270,000. Geospace Technologies accounts for 4.1% of Gate City Capital Management LLC’s holdings, making the stock its 12th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in GEOS. Victory Capital Management Inc. grew its holdings in Geospace Technologies by 12.0% during the third quarter. Victory Capital Management Inc. now owns 33,410 shares of the oil and gas company’s stock valued at $433,000 after purchasing an additional 3,570 shares during the period. Barclays PLC bought a new position in shares of Geospace Technologies during the third quarter worth $109,000. Mraz Amerine & Associates Inc. grew its holdings in shares of Geospace Technologies by 8.4% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 25,931 shares of the oil and gas company’s stock valued at $336,000 after buying an additional 2,000 shares during the period. Acadian Asset Management LLC increased its position in shares of Geospace Technologies by 27.0% in the 3rd quarter. Acadian Asset Management LLC now owns 92,855 shares of the oil and gas company’s stock valued at $1,201,000 after buying an additional 19,764 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in Geospace Technologies during the 3rd quarter worth $1,769,000. 57.15% of the stock is currently owned by institutional investors.

Geospace Technologies Stock Performance

GEOS stock traded down $0.44 during mid-day trading on Thursday, hitting $9.90. 21,678 shares of the company were exchanged, compared to its average volume of 94,926. Geospace Technologies Co. has a 1-year low of $6.60 and a 1-year high of $17.09. The firm’s 50 day simple moving average is $11.55 and its 200 day simple moving average is $12.56. The firm has a market cap of $132.26 million, a P/E ratio of 8.69 and a beta of 0.74.

Geospace Technologies (NASDAQ:GEOSGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The oil and gas company reported ($0.32) EPS for the quarter. The company had revenue of $24.27 million for the quarter. Geospace Technologies had a return on equity of 11.65% and a net margin of 11.75%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Geospace Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, May 10th.

Read Our Latest Analysis on Geospace Technologies

About Geospace Technologies

(Free Report)

Geospace Technologies Corporation designs and manufactures instruments and equipment used in the oil and gas industry to acquire seismic data in order to locate, characterize, and monitor hydrocarbon producing reservoirs. The company operates through three segments: Oil and Gas Markets, Adjacent Markets, and Emerging Markets.

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

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