EVR Research LP Sells 259,700 Shares of Garrett Motion Inc. (NYSE:GTX)

EVR Research LP cut its stake in shares of Garrett Motion Inc. (NYSE:GTX) by 12.0% during the second quarter, HoldingsChannel.com reports. The firm owned 1,900,000 shares of the company’s stock after selling 259,700 shares during the period. Garrett Motion accounts for about 4.9% of EVR Research LP’s portfolio, making the stock its 6th largest position. EVR Research LP’s holdings in Garrett Motion were worth $16,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pekin Hardy Strauss Inc. grew its stake in Garrett Motion by 2.2% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock valued at $815,000 after acquiring an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Garrett Motion by 17.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,203 shares of the company’s stock valued at $174,000 after acquiring an additional 2,933 shares during the last quarter. Baker Ellis Asset Management LLC grew its stake in Garrett Motion by 1.7% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 236,353 shares of the company’s stock valued at $2,030,000 after acquiring an additional 3,981 shares during the last quarter. nVerses Capital LLC acquired a new stake in Garrett Motion in the 2nd quarter valued at about $67,000. Finally, Financial Management Professionals Inc. grew its stake in Garrett Motion by 93.1% in the 1st quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock valued at $162,000 after acquiring an additional 7,879 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Price Performance

Shares of GTX stock opened at $8.00 on Thursday. The firm has a market cap of $1.75 billion, a P/E ratio of -6.96 and a beta of 1.15. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The firm’s 50-day simple moving average is $8.29 and its 200-day simple moving average is $8.92.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $950.00 million. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. During the same period in the prior year, the firm posted ($1.88) EPS. Analysts expect that Garrett Motion Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Garrett Motion

In related news, Director Julia Steyn sold 14,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total transaction of $122,780.00. Following the completion of the sale, the director now owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the sale, the director now owns 53,781 shares of the company’s stock, valued at $471,659.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $10.01, for a total transaction of $37,827.79. Following the completion of the sale, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Garrett Motion in a report on Thursday, September 19th.

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.