GSA Capital Partners LLP Purchases New Position in Garmin Ltd. $GRMN

Key Points

• GSA Capital Partners LLP opened a new position in Garmin during the fourth quarter, buying 4,827 shares valued at about $979,000.
• Garmin posted better-than-expected quarterly results, with EPS of $2.08 versus the $1.84 estimate and revenue of $1.75 billion, up 14% year over year.
• Analysts remain mixed but generally positive: Garmin has a Moderate Buy consensus rating and an average price target of $269.40, while some firms recently raised or trimmed their targets.

GSA Capital Partners LLP purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,827 shares of the scientific and technical instruments company's stock, valued at approximately $979,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in Garmin by 788.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company's stock valued at $39,000 after buying an additional 142 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. Torren Management LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $41,000. Elyxium Wealth LLC acquired a new position in shares of Garmin during the 4th quarter worth approximately $60,000. Finally, Root Financial Partners LLC acquired a new position in shares of Garmin during the 3rd quarter worth approximately $76,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Up 0.9%

NYSE GRMN opened at $239.53 on Friday. The firm has a market capitalization of $46.20 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 2.80 and a beta of 0.94. The firm's 50 day simple moving average is $244.10 and its 200 day simple moving average is $222.49. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $273.32.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Garmin had a net margin of 23.26% and a return on equity of 20.07%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Garmin has set its FY 2026 guidance at 9.350-9.350 EPS. On average, equities research analysts forecast that Garmin Ltd. will post 9.57 earnings per share for the current year.

Analyst Ratings Changes

GRMN has been the topic of a number of analyst reports. Tigress Financial increased their target price on shares of Garmin from $320.00 to $325.00 and gave the stock a "strong-buy" rating in a research report on Wednesday. Weiss Ratings restated a "buy (b)" rating on shares of Garmin in a research report on Thursday, January 22nd. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Barclays decreased their target price on shares of Garmin from $240.00 to $238.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $269.40.

Insider Buying and Selling at Garmin

In related news, EVP Matthew Munn sold 5,275 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $250.97, for a total transaction of $1,323,866.75. Following the sale, the executive vice president owned 9,876 shares in the company, valued at approximately $2,478,579.72. This trade represents a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick Desbois sold 6,694 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $251.65, for a total transaction of $1,684,545.10. Following the sale, the chief operating officer owned 58,540 shares in the company, valued at $14,731,591. This represents a 10.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,175 shares of company stock worth $9,852,187 in the last three months. Company insiders own 15.38% of the company's stock.

Garmin Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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