Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 150,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $9.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the insider now owns 25,434,957 shares in the company, valued at $228,914,613. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Cyrus Capital Partners, L.P. also recently made the following trade(s):
- On Monday, April 14th, Cyrus Capital Partners, L.P. sold 1,502,441 shares of Garrett Motion stock. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05.
Garrett Motion Stock Performance
Garrett Motion stock opened at $8.94 on Thursday. Garrett Motion Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $10.39. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 7.04 and a beta of 0.67. The stock has a fifty day moving average of $8.95 and a two-hundred day moving average of $8.74.
Institutional Trading of Garrett Motion
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Garrett Motion by 85.2% during the 3rd quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after purchasing an additional 136,600 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Garrett Motion during the fourth quarter worth approximately $15,442,000. Assenagon Asset Management S.A. grew its stake in Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after acquiring an additional 47,126 shares during the period. Raymond James Financial Inc. acquired a new position in Garrett Motion in the 4th quarter valued at $326,000. Finally, VELA Investment Management LLC purchased a new position in shares of Garrett Motion during the 4th quarter worth $883,000. Hedge funds and other institutional investors own 86.27% of the company's stock.
Analyst Upgrades and Downgrades
Separately, BWS Financial reissued a "buy" rating and set a $12.00 price objective on shares of Garrett Motion in a research note on Friday, April 4th.
Check Out Our Latest Stock Analysis on Garrett Motion
Garrett Motion Company Profile
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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.
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