Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 260,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 260,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $9.87, for a total value of $2,566,200.00. Following the completion of the transaction, the insider now owns 28,467,284 shares in the company, valued at $280,972,093.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 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 stock was sold at an average price of $9.20, for a total value of $274,712.00.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $10.03 on Thursday. Garrett Motion Inc. has a one year low of $6.43 and a one year high of $10.16. The stock’s fifty day moving average is $9.23 and its 200 day moving average is $8.38. The stock has a market cap of $2.39 billion, a P/E ratio of -7.72 and a beta of 1.30.

Garrett Motion (NYSE:GTX) last announced its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. The company had revenue of $945.00 million for the quarter, compared to analysts’ expectations of $949.00 million. Analysts predict that Garrett Motion Inc. will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Garrett Motion

A number of institutional investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. grew its position in Garrett Motion by 31.0% in the first quarter. Advisor Group Holdings Inc. now owns 12,015 shares of the company’s stock worth $85,000 after acquiring an additional 2,846 shares in the last quarter. Raymond James & Associates boosted its position in shares of Garrett Motion by 53.8% during the first quarter. Raymond James & Associates now owns 69,118 shares of the company’s stock valued at $497,000 after buying an additional 24,170 shares during the period. Bank of Montreal Can boosted its position in shares of Garrett Motion by 4.6% during the first quarter. Bank of Montreal Can now owns 60,144 shares of the company’s stock valued at $441,000 after buying an additional 2,651 shares during the period. BlackRock Inc. boosted its position in shares of Garrett Motion by 1.8% during the first quarter. BlackRock Inc. now owns 898,030 shares of the company’s stock valued at $6,458,000 after buying an additional 16,089 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Garrett Motion by 74.8% during the first quarter. Dimensional Fund Advisors LP now owns 274,890 shares of the company’s stock valued at $1,976,000 after buying an additional 117,617 shares during the period. 86.27% of the stock is owned by institutional investors.

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.