Geospace Technologies Corporation $GEOS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Geospace Technologies by 24.1%, owning 110,210 shares valued at approximately $795,000 after selling 34,909 shares during the 1st quarter.
• Hedge funds and institutional investors collectively own 57.15% of Geospace Technologies, with several firms, including Bank of America, increasing their positions recently.
• Geospace Technologies' stock recently achieved a 7.4% increase, with a market cap of $241.66 million and a current price of $18.85 per share.

American Century Companies Inc. decreased its holdings in Geospace Technologies Corporation (NASDAQ:GEOS - Free Report) by 24.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,210 shares of the oil and gas company's stock after selling 34,909 shares during the quarter. American Century Companies Inc. owned about 0.86% of Geospace Technologies worth $795,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Grace & White Inc. NY raised its position in shares of Geospace Technologies by 39.4% in the 1st quarter. Grace & White Inc. NY now owns 301,321 shares of the oil and gas company's stock valued at $2,173,000 after purchasing an additional 85,225 shares during the last quarter. US Bancorp DE increased its stake in Geospace Technologies by 74.6% during the 1st quarter. US Bancorp DE now owns 124,034 shares of the oil and gas company's stock valued at $894,000 after purchasing an additional 53,001 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Geospace Technologies by 5.3% in the first quarter. Moors & Cabot Inc. now owns 785,900 shares of the oil and gas company's stock worth $5,666,000 after buying an additional 39,813 shares during the last quarter. EagleClaw Capital Managment LLC lifted its stake in shares of Geospace Technologies by 193.1% during the first quarter. EagleClaw Capital Managment LLC now owns 40,150 shares of the oil and gas company's stock worth $289,000 after buying an additional 26,450 shares during the period. Finally, Peapod Lane Capital LLC lifted its stake in shares of Geospace Technologies by 10.4% during the first quarter. Peapod Lane Capital LLC now owns 280,051 shares of the oil and gas company's stock worth $2,019,000 after buying an additional 26,399 shares during the period. 57.15% of the stock is owned by institutional investors and hedge funds.

Geospace Technologies Stock Up 1.7%

Shares of NASDAQ:GEOS traded up $0.28 during midday trading on Wednesday, reaching $16.47. The company's stock had a trading volume of 194,990 shares, compared to its average volume of 182,298. The firm has a market capitalization of $211.15 million, a PE ratio of -15.54 and a beta of 0.70. Geospace Technologies Corporation has a twelve month low of $5.51 and a twelve month high of $21.60. The stock has a fifty day moving average of $15.58 and a 200 day moving average of $10.34.

Geospace Technologies (NASDAQ:GEOS - Get Free Report) last posted its earnings results on Thursday, August 7th. The oil and gas company reported $0.06 EPS for the quarter. Geospace Technologies had a positive return on equity of 2.77% and a negative net margin of 11.70%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Geospace Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.

Geospace Technologies Company Profile

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.