Equinox Partners Investment Ma Sells 113,705 Shares of Gran Tierra Energy (NYSE:GTE) Stock

Key Points

• Equinox Partners Investment Management sold 113,705 Gran Tierra Energy shares at an average price of $9.08, generating approximately $1.03 million. The sale reduced its direct holding by 22.42% to 393,527 shares.
• The shareholder also sold more than 1.7 million additional shares in three transactions from August 5–7, bringing its recent disclosed sales to roughly $17.3 million.
• Gran Tierra shares rose to $9.53, while analysts maintained an overall “Buy” rating with an average price target of $9.72; institutional investors own 31.7% of the stock.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 113,705 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $9.08, for a total value of $1,032,441.40. Following the transaction, the insider directly owned 393,527 shares of the company's stock, valued at approximately $3,573,225.16. The trade was a 22.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.05, for a total transaction of $944,349.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.16, for a total transaction of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total transaction of $5,366,652.80.

Gran Tierra Energy Price Performance

Shares of GTE traded up $0.58 during trading hours on Tuesday, reaching $9.53. The stock had a trading volume of 1,327,069 shares, compared to its average volume of 702,320. Gran Tierra Energy Inc. has a 12 month low of $3.09 and a 12 month high of $11.52. The stock has a market capitalization of $337.17 million, a PE ratio of 6.66 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The company's 50-day moving average is $7.13 and its two-hundred day moving average is $7.42.

Institutional Investors Weigh In On Gran Tierra Energy

A number of institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in Gran Tierra Energy by 2,226.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company's stock valued at $5,421,000 after buying an additional 578,397 shares during the period. Equinox Partners Investment Management LLC boosted its position in Gran Tierra Energy by 25.2% during the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company's stock valued at $27,057,000 after acquiring an additional 1,283,783 shares during the last quarter. Empowered Funds LLC grew its holdings in Gran Tierra Energy by 32.9% during the 1st quarter. Empowered Funds LLC now owns 321,592 shares of the company's stock worth $2,885,000 after acquiring an additional 79,535 shares during the period. SG Americas Securities LLC acquired a new stake in Gran Tierra Energy during the 1st quarter worth about $154,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Gran Tierra Energy by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company's stock worth $484,000 after acquiring an additional 6,015 shares in the last quarter. 31.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Capital restated a "buy" rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. Canaccord Genuity Group set a $14.00 price objective on shares of Gran Tierra Energy in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $9.72.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.

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