Jump Financial LLC Sells 30,015 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Jump Financial LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 31.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,200 shares of the company’s stock after selling 30,015 shares during the period. Jump Financial LLC’s holdings in The Goodyear Tire & Rubber were worth $1,135,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Advisor Partners LLC grew its holdings in The Goodyear Tire & Rubber by 4.9% during the 1st quarter. Advisor Partners LLC now owns 12,348 shares of the company’s stock worth $217,000 after acquiring an additional 578 shares during the period. First Mercantile Trust Co. increased its holdings in The Goodyear Tire & Rubber by 5.6% in the second quarter. First Mercantile Trust Co. now owns 13,280 shares of the company’s stock worth $228,000 after purchasing an additional 710 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of The Goodyear Tire & Rubber by 59.5% in the 2nd quarter. Exchange Traded Concepts LLC now owns 1,983 shares of the company’s stock valued at $34,000 after acquiring an additional 740 shares in the last quarter. Corient Capital Partners LLC lifted its position in shares of The Goodyear Tire & Rubber by 6.6% during the 1st quarter. Corient Capital Partners LLC now owns 11,958 shares of the company’s stock valued at $210,000 after acquiring an additional 744 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in The Goodyear Tire & Rubber by 2.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 35,828 shares of the company’s stock worth $614,000 after acquiring an additional 805 shares in the last quarter. 80.95% of the stock is owned by institutional investors.

Separately, Morgan Stanley reiterated a “hold” rating and set a $16.00 price objective on shares of The Goodyear Tire & Rubber in a report on Friday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Goodyear Tire & Rubber presently has a consensus rating of “Buy” and an average price target of $16.50.

Shares of NASDAQ GT opened at $18.44 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.14 and a quick ratio of 0.64. The company has a 50-day moving average price of $16.76 and a 200-day moving average price of $17.42. The stock has a market capitalization of $5.19 billion, a P/E ratio of 31.79 and a beta of 2.16. The Goodyear Tire & Rubber Company has a 1 year low of $8.18 and a 1 year high of $20.70.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.15. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.95 billion. The Goodyear Tire & Rubber had a return on equity of 8.80% and a net margin of 0.96%. The company’s quarterly revenue was up 85.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.87) EPS. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.15 earnings per share for the current fiscal year.

The Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.

Further Reading: Death Cross

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Institutional Ownership by Quarter for The Goodyear Tire & Rubber (NASDAQ:GT)

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