Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 1,093,712 Shares

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92. Following the completion of the transaction, the insider owned 412,332 shares in the company, valued at approximately $3,776,961.12. This trade represents a 72.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Stock Down 5.4%

Shares of GTE opened at $8.96 on Friday. The stock has a 50 day moving average price of $7.12 and a 200 day moving average price of $7.37. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The stock has a market capitalization of $316.83 million, a price-to-earnings ratio of 6.27 and a beta of 0.13.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GTE. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a research note on Tuesday, April 14th. Roth Capital reaffirmed a “buy” rating on shares of Gran Tierra Energy in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of “Buy” and an average target price of $9.72.

Hedge Funds Weigh In On Gran Tierra Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Equinox Partners Investment Management LLC boosted its stake in Gran Tierra Energy by 25.2% during the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock worth $27,057,000 after buying an additional 1,283,783 shares during the last quarter. LM Asset Management Inc. increased its stake in shares of Gran Tierra Energy by 32.2% in the 4th quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company’s stock worth $15,652,000 after acquiring an additional 899,620 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Gran Tierra Energy by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock worth $6,967,000 after acquiring an additional 16,300 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gran Tierra Energy by 2,226.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after acquiring an additional 578,397 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Gran Tierra Energy by 0.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock worth $2,372,000 after acquiring an additional 5,098 shares during the period. Hedge funds and other institutional investors own 31.70% of the company’s stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.