Garrett Motion (NYSE:GTX) Shares Gap Down to $9.85

Garrett Motion Inc. (NYSE:GTX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.85, but opened at $9.33. Garrett Motion shares last traded at $9.11, with a volume of 709,214 shares.

Analyst Upgrades and Downgrades

Separately, BWS Financial reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Garrett Motion in a research note on Monday, April 8th.

Garrett Motion Stock Down 0.5 %

The stock has a 50 day moving average of $9.65 and a 200 day moving average of $8.69.

Garrett Motion (NYSE:GTX) last issued 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 business had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. Analysts predict that Garrett Motion Inc. will post 1.05 EPS for the current year.

Insider Activity

In other news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total transaction of $90,000,000.00. Following the completion of the sale, the insider now owns 15,236,484 shares in the company, valued at $137,128,356. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Cyrus Capital Partners, L.P. sold 29,860 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $9.20, for a total transaction of $274,712.00. Following the completion of the sale, the insider now owns 29,527,284 shares in the company, valued at $271,651,012.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total value of $90,000,000.00. Following the sale, the insider now owns 15,236,484 shares of the company’s stock, valued at approximately $137,128,356. The disclosure for this sale can be found here. Insiders sold a total of 11,161,193 shares of company stock worth $101,430,410 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently bought and sold shares of GTX. Prevatt Capital Ltd bought a new stake in Garrett Motion during the fourth quarter worth $24,188,000. 683 Capital Management LLC bought a new stake in Garrett Motion during the third quarter worth $11,032,000. Vanguard Group Inc. grew its holdings in Garrett Motion by 152.0% during the third quarter. Vanguard Group Inc. now owns 2,224,144 shares of the company’s stock worth $17,526,000 after buying an additional 1,341,535 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Garrett Motion during the fourth quarter worth $8,211,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Garrett Motion by 3,567.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 811,359 shares of the company’s stock worth $6,394,000 after purchasing an additional 789,238 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.