Garrett Motion (NYSE:GTX) Shares Gap Down to $9.85

Garrett Motion Inc. (NYSE:GTX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $9.85, but opened at $9.33. Garrett Motion shares last traded at $9.11, with a volume of 709,214 shares changing hands.

Analyst Ratings Changes

Separately, BWS Financial reissued a “buy” rating and set a $15.00 price objective on shares of Garrett Motion in a research report on Monday, April 8th.

Garrett Motion Stock Performance

The stock’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $8.66. The firm has a market capitalization of $2.24 billion, a PE ratio of -7.34 and a beta of 1.31.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $945.00 million for the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a net margin of 6.72% and a negative return on equity of 49.01%. As a group, analysts predict that Garrett Motion Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In other news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $9.96, for a total value of $580,727.76. Following the sale, the insider now directly owns 27,613,066 shares of the company’s stock, valued at approximately $275,026,137.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $9.96, for a total value of $580,727.76. Following the transaction, the insider now owns 27,613,066 shares in the company, valued at approximately $275,026,137.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the completion of the transaction, the insider now owns 15,236,484 shares in the company, valued at approximately $137,128,356. The disclosure for this sale can be found here. Insiders have sold 11,161,193 shares of company stock valued at $101,430,410 in the last three months. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Garrett Motion

A number of hedge funds have recently bought and sold shares of GTX. DekaBank Deutsche Girozentrale bought a new position in Garrett Motion during the 3rd quarter valued at about $43,000. Barclays PLC boosted its holdings in shares of Garrett Motion by 888.6% in the second quarter. Barclays PLC now owns 6,505 shares of the company’s stock worth $49,000 after buying an additional 5,847 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Garrett Motion in the fourth quarter worth approximately $82,000. Altfest L J & Co. Inc. purchased a new position in shares of Garrett Motion in the third quarter worth approximately $79,000. Finally, Quent Capital LLC boosted its holdings in shares of Garrett Motion by 27,500.0% in the fourth quarter. Quent Capital LLC now owns 11,040 shares of the company’s stock worth $107,000 after buying an additional 11,000 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

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.