GAMMA Investing LLC Increases Stock Holdings in Garmin Ltd. (NYSE:GRMN)

GAMMA Investing LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 25,047.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 885,456 shares of the scientific and technical instruments company's stock after purchasing an additional 881,935 shares during the quarter. GAMMA Investing LLC owned approximately 0.46% of Garmin worth $192,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Moody National Bank Trust Division boosted its stake in Garmin by 2.4% during the 1st quarter. Moody National Bank Trust Division now owns 3,015 shares of the scientific and technical instruments company's stock worth $655,000 after purchasing an additional 72 shares during the last quarter. Versant Capital Management Inc boosted its stake in Garmin by 149.3% during the 1st quarter. Versant Capital Management Inc now owns 1,229 shares of the scientific and technical instruments company's stock worth $267,000 after purchasing an additional 736 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Garmin during the 1st quarter valued at about $1,649,000. Kera Capital Partners Inc. boosted its position in shares of Garmin by 9.8% during the 1st quarter. Kera Capital Partners Inc. now owns 1,140 shares of the scientific and technical instruments company's stock valued at $248,000 after acquiring an additional 102 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Garmin by 10.0% during the 4th quarter. Wellington Management Group LLP now owns 18,281 shares of the scientific and technical instruments company's stock valued at $3,771,000 after acquiring an additional 1,669 shares during the last quarter. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Stock Up 0.2%

NYSE:GRMN traded up $0.37 on Thursday, reaching $205.32. 634,316 shares of the company's stock were exchanged, compared to its average volume of 884,074. The firm has a market capitalization of $39.53 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.36 and a beta of 0.99. The business has a fifty day moving average of $195.84 and a 200-day moving average of $208.07. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a return on equity of 19.31% and a net margin of 22.42%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. As a group, equities analysts anticipate that Garmin Ltd. will post 7.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the sale, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. This represents a 25.12% 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. Insiders own 15.38% of the company's stock.

Analyst Ratings Changes

GRMN has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Barclays decreased their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley upped their target price on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Finally, Tigress Financial upped their target price on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $206.00.

About Garmin

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.