Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $2,502,500.00 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $10.01, for a total value of $2,502,500.00. Following the completion of the sale, the insider now directly owns 28,017,284 shares in the company, valued at $280,453,012.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Monday, March 25th, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $10.03, for a total value of $2,006,000.00.
• On Friday, March 22nd, Cyrus Capital Partners, L.P. sold 260,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.87, for a total value of $2,566,200.00.
• On Thursday, February 22nd, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.35, for a total value of $1,870,000.00.
• On Thursday, February 15th, Cyrus Capital Partners, L.P. sold 29,860 shares of Garrett Motion stock. The shares were sold at an average price of $9.20, for a total value of $274,712.00.

Garrett Motion Price Performance

NYSE GTX opened at $9.94 on Friday. The firm has a market capitalization of $2.37 billion, a P/E ratio of -7.65 and a beta of 1.30. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The business’s 50-day simple moving average is $9.25 and its 200-day simple moving average is $8.39.

Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $945.00 million for the quarter, compared to analyst estimates of $949.00 million. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. On average, equities research analysts expect that Garrett Motion Inc. will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in shares of Garrett Motion during the 1st quarter valued at about $35,000. Comerica Bank raised its holdings in shares of Garrett Motion by 238.0% during the 4th quarter. Comerica Bank now owns 3,677 shares of the company’s stock valued at $36,000 after buying an additional 2,589 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Garrett Motion during the 2nd quarter valued at about $37,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Garrett Motion during the 3rd quarter valued at about $43,000. Finally, Barclays PLC increased its holdings in Garrett Motion by 888.6% during the 2nd quarter. Barclays PLC now owns 6,505 shares of the company’s stock worth $49,000 after purchasing an additional 5,847 shares during the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

About Garrett Motion

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.