Garrett Motion Inc. (NYSE:GTX) Major Shareholder Special Credit Pa Centerbridge Sells 500,000 Shares

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $9.45, for a total transaction of $4,725,000.00. Following the completion of the transaction, the insider now directly owns 9,949,894 shares of the company’s stock, valued at $94,026,498.30. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Stock Performance

Garrett Motion stock opened at $9.46 on Friday. The company’s fifty day moving average price is $9.38 and its 200 day moving average price is $8.63. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39. The stock has a market capitalization of $1.94 billion, a P/E ratio of 7.45 and a beta of 1.09.

Institutional Trading of Garrett Motion

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atria Investments Inc acquired a new position in shares of Garrett Motion during the third quarter worth about $237,000. Covestor Ltd acquired a new position in Garrett Motion during the third quarter worth about $28,000. Entropy Technologies LP increased its position in shares of Garrett Motion by 17.0% in the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock valued at $147,000 after buying an additional 2,600 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Garrett Motion in the 3rd quarter valued at approximately $616,000. Finally, New South Capital Management Inc. grew its holdings in Garrett Motion by 19.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after buying an additional 431,779 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and issued a $12.00 price target on shares of Garrett Motion in a report on Tuesday, February 25th.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.