Lion Street Advisors LLC Has $1.16 Million Stake in Garmin Ltd. $GRMN

Lion Street Advisors LLC cut its position in Garmin Ltd. (NYSE:GRMN) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,574 shares of the scientific and technical instruments company’s stock after selling 83 shares during the quarter. Lion Street Advisors LLC’s holdings in Garmin were worth $1,163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRMN. Groupe la Francaise acquired a new position in shares of Garmin in the 1st quarter valued at approximately $33,000. TFC Financial Management Inc. raised its position in shares of Garmin by 1,633.3% in the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 147 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Garmin in the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Garmin in the 1st quarter valued at approximately $38,000. Finally, Garde Capital Inc. acquired a new position in shares of Garmin in the 1st quarter valued at approximately $40,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total transaction of $2,371,760.96. Following the sale, the insider directly owned 36,092 shares of the company’s stock, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.38% of the stock is owned by insiders.

Garmin Price Performance

GRMN opened at $248.18 on Monday. Garmin Ltd. has a fifty-two week low of $160.95 and a fifty-two week high of $261.69. The firm has a market capitalization of $47.77 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.72 and a beta of 0.98. The company’s 50 day moving average price is $238.90 and its two-hundred day moving average price is $216.49.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on GRMN. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. Tigress Financial upped their price objective on shares of Garmin from $285.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 30th. Barclays reiterated an “underweight” rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Garmin from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on shares of Garmin from $186.00 to $193.00 and gave the stock an “underweight” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $228.75.

Garmin Company Profile

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.