Jump Financial LLC Sells 105,112 Shares of The Goodyear Tire & Rubber Company $GT

Key Points

• Jump Financial LLC decreased its position in The Goodyear Tire & Rubber Company by 85.0% in the 1st quarter, leaving it with 18,504 shares valued at $171,000.
• Multiple large investors adjusted their holdings, with Nisa Investment Advisors LLC and John G Ullman & Associates Inc. increasing their stakes in Goodyear Tire & Rubber during the same period.
• The company's recent earnings report revealed a loss of ($0.17) EPS, significantly missing analyst expectations and marking a 2.3% year-over-year revenue decline.

Jump Financial LLC cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 85.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,504 shares of the company's stock after selling 105,112 shares during the period. Jump Financial LLC's holdings in Goodyear Tire & Rubber were worth $171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after buying an additional 932 shares during the period. John G Ullman & Associates Inc. lifted its holdings in Goodyear Tire & Rubber by 9.1% in the first quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock worth $166,000 after buying an additional 1,500 shares during the period. Baird Financial Group Inc. lifted its holdings in Goodyear Tire & Rubber by 15.1% in the fourth quarter. Baird Financial Group Inc. now owns 12,296 shares of the company's stock worth $111,000 after buying an additional 1,617 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 2.3% during the first quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock valued at $677,000 after purchasing an additional 1,621 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after purchasing an additional 1,674 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT traded up $0.01 during trading hours on Wednesday, reaching $8.56. The company had a trading volume of 7,995,769 shares, compared to its average volume of 7,131,885. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.03. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 6.03, a PEG ratio of 0.76 and a beta of 1.37. The firm's 50 day moving average price is $9.69 and its 200-day moving average price is $10.02.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the firm posted $0.19 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BNP Paribas Exane reiterated a "neutral" rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Citigroup assumed coverage on shares of Goodyear Tire & Rubber in a report on Monday. They set a "neutral" rating and a $10.00 target price for the company. BNP Paribas lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.93.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.