Putnam Investments LLC Invests $2 Million in Geospace Technologies Co. (GEOS)

Putnam Investments LLC acquired a new position in shares of Geospace Technologies Co. (NASDAQ:GEOS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 142,324 shares of the oil and gas company’s stock, valued at approximately $2,001,000.

Several other hedge funds have also bought and sold shares of GEOS. Bank of America Corp DE boosted its holdings in shares of Geospace Technologies by 415.3% during the second quarter. Bank of America Corp DE now owns 13,578 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 10,943 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Geospace Technologies during the second quarter worth $240,000. Dupont Capital Management Corp acquired a new stake in shares of Geospace Technologies during the second quarter worth $390,000. JPMorgan Chase & Co. boosted its holdings in shares of Geospace Technologies by 471.7% during the first quarter. JPMorgan Chase & Co. now owns 52,178 shares of the oil and gas company’s stock worth $515,000 after purchasing an additional 43,051 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of Geospace Technologies during the second quarter worth $521,000. Institutional investors and hedge funds own 61.35% of the company’s stock.

In related news, insider Robbin B. Adams sold 3,500 shares of Geospace Technologies stock in a transaction on Monday, September 10th. The stock was sold at an average price of $13.20, for a total value of $46,200.00. Following the transaction, the insider now owns 31,500 shares in the company, valued at $415,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.92% of the stock is currently owned by company insiders.

Separately, Singular Research assumed coverage on Geospace Technologies in a report on Tuesday, July 24th. They set a “buy” rating and a $17.25 price objective on the stock.

GEOS stock opened at $13.22 on Thursday. Geospace Technologies Co. has a 52-week low of $9.18 and a 52-week high of $18.71.

Geospace Technologies (NASDAQ:GEOS) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter. Geospace Technologies had a negative return on equity of 20.62% and a negative net margin of 48.46%. The business had revenue of $21.27 million for the quarter.

Geospace Technologies 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 two segments, Seismic and Non-Seismic. The Seismic segment offers land and marine nodal data acquisition systems, permanent land and seabed reservoir monitoring products and services, geophones and geophone strings, hydrophones, leader wires, connectors, telemetry cables, marine streamer retrieval and steering devices, multi-component sensors, seismic borehole acquisition systems, and various other products.

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

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