Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 250,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 250,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $10.01, for a total value of $2,502,500.00. Following the sale, the insider now owns 28,017,284 shares in the company, valued at approximately $280,453,012.84. The sale was disclosed in a filing with the SEC, which is available 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.

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 shares were 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 transaction of $2,566,200.00.
• On Thursday, February 22nd, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The shares were 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

Shares of NYSE:GTX traded down $0.09 during trading on Thursday, reaching $9.94. 1,770,408 shares of the stock were exchanged, compared to its average volume of 1,060,833. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The stock has a fifty day moving average of $9.23 and a two-hundred day moving average of $8.38. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -7.72 and a beta of 1.30.

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

Hedge Funds Weigh In On Garrett Motion

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