Intrepid Capital Management Inc. Reduces Stake in Garmin Ltd. (NYSE:GRMN)

Intrepid Capital Management Inc. trimmed its stake in Garmin Ltd. (NYSE:GRMNFree Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,892 shares of the scientific and technical instruments company’s stock after selling 114 shares during the quarter. Garmin makes up 1.6% of Intrepid Capital Management Inc.’s holdings, making the stock its 21st biggest position. Intrepid Capital Management Inc.’s holdings in Garmin were worth $2,300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. lifted its stake in shares of Garmin by 34.5% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 7,436 shares of the scientific and technical instruments company’s stock valued at $782,000 after buying an additional 1,906 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Garmin by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 813,137 shares of the scientific and technical instruments company’s stock valued at $85,542,000 after buying an additional 33,580 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Garmin by 42.6% during the 3rd quarter. Van ECK Associates Corp now owns 47,320 shares of the scientific and technical instruments company’s stock valued at $4,978,000 after buying an additional 14,126 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Garmin by 6.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,952 shares of the scientific and technical instruments company’s stock valued at $1,363,000 after buying an additional 820 shares in the last quarter. Finally, Pathstone Family Office LLC increased its holdings in Garmin by 26.4% during the 3rd quarter. Pathstone Family Office LLC now owns 7,831 shares of the scientific and technical instruments company’s stock worth $824,000 after acquiring an additional 1,637 shares during the period. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Garmin

In related news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the transaction, the executive vice president now owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Garmin news, EVP Patrick Desbois sold 4,126 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $163.52, for a total transaction of $674,683.52. Following the completion of the sale, the executive vice president now owns 58,412 shares of the company’s stock, valued at approximately $9,551,530.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $142.12, for a total transaction of $2,131,800.00. Following the sale, the director now directly owns 683,834 shares of the company’s stock, valued at approximately $97,186,488.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,126 shares of company stock valued at $7,232,084. Insiders own 19.54% of the company’s stock.

Garmin Trading Down 0.4 %

Shares of NYSE:GRMN traded down $0.65 during trading on Friday, reaching $163.26. The company had a trading volume of 324,302 shares, compared to its average volume of 622,963. The company has a fifty day moving average of $156.49 and a two-hundred day moving average of $139.09. The stock has a market capitalization of $31.36 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 3.52 and a beta of 0.98. Garmin Ltd. has a 12 month low of $99.61 and a 12 month high of $171.64.

Garmin (NYSE:GRMNGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 5.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GRMN. Barclays upped their target price on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Tigress Financial upped their target price on shares of Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. Barrington Research upped their target price on shares of Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, StockNews.com raised shares of Garmin from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.83.

Check Out Our Latest Stock Report on GRMN

Garmin Company Profile

(Free Report)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.

See Also

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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