Insider Buying: MITCHAM INDUSTR/SH (NASDAQ:MIND) Director Acquires 10,000 Shares of Stock

MITCHAM INDUSTR/SH (NASDAQ:MIND) Director Peter H. Blum purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $1.73 per share, for a total transaction of $17,300.00. Following the completion of the transaction, the director now owns 531,528 shares of the company’s stock, valued at approximately $919,543.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of MITCHAM INDUSTR/SH stock opened at $1.65 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $1.96. MITCHAM INDUSTR/SH has a 52 week low of $0.70 and a 52 week high of $4.42. The stock has a market cap of $19.49 million, a PE ratio of -1.14 and a beta of 1.85.

MITCHAM INDUSTR/SH (NASDAQ:MIND) last issued its quarterly earnings results on Tuesday, April 21st. The company reported ($0.29) EPS for the quarter. MITCHAM INDUSTR/SH had a negative return on equity of 46.46% and a negative net margin of 38.60%. The business had revenue of $13.26 million during the quarter.

A number of institutional investors have recently modified their holdings of the business. White Pine Capital LLC raised its position in MITCHAM INDUSTR/SH by 73.4% in the first quarter. White Pine Capital LLC now owns 523,145 shares of the company’s stock worth $654,000 after acquiring an additional 221,425 shares in the last quarter. Ariel Investments LLC raised its position in MITCHAM INDUSTR/SH by 1.4% in the fourth quarter. Ariel Investments LLC now owns 2,872,310 shares of the company’s stock worth $8,244,000 after acquiring an additional 39,768 shares in the last quarter. Finally, PEAK6 Investments LLC raised its holdings in MITCHAM INDUSTR/SH by 113.6% during the 4th quarter. PEAK6 Investments LLC now owns 62,748 shares of the company’s stock worth $180,000 after buying an additional 33,374 shares during the period. Hedge funds and other institutional investors own 70.18% of the company’s stock.

MITCHAM INDUSTR/SH Company Profile

Mitcham Industries, Inc, through its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic and maritime security industries worldwide. The company operates in two segments, Marine Technology Products, and Equipment Leasing. The Marine Technology Products segment develops, manufactures, and sells proprietary products.

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