Monaco Asset Management SAM Grows Position in The Goodyear Tire & Rubber Company $GT

Monaco Asset Management SAM boosted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 140.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 240,000 shares of the company’s stock after acquiring an additional 140,000 shares during the quarter. Monaco Asset Management SAM’s holdings in Goodyear Tire & Rubber were worth $2,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Partners Wealth acquired a new position in Goodyear Tire & Rubber during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. lifted its position in Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after buying an additional 4,198 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in Goodyear Tire & Rubber by 29.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after buying an additional 1,749 shares in the last quarter. GAMMA Investing LLC lifted its position in Goodyear Tire & Rubber by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 8,063 shares of the company’s stock valued at $71,000 after buying an additional 3,605 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in Goodyear Tire & Rubber during the third quarter valued at approximately $80,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $6.10 on Monday. The company’s fifty day simple moving average is $6.52 and its 200-day simple moving average is $7.91. The Goodyear Tire & Rubber Company has a 52 week low of $5.43 and a 52 week high of $12.03. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The stock has a market cap of $1.75 billion, a P/E ratio of -0.84 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities research analysts predict that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GT. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Reduce” and an average price target of $8.54.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.