LM Asset Management Inc. Acquires Shares of 4,365,420 Gran Tierra Energy Inc. $GTE

LM Asset Management Inc. bought a new position in Gran Tierra Energy Inc. (NYSE:GTE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,365,420 shares of the company's stock, valued at approximately $27,283,875. Gran Tierra Energy makes up about 0.0% of LM Asset Management Inc.'s portfolio, making the stock its 3rd largest holding. LM Asset Management Inc. owned 12.34% of Gran Tierra Energy as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Gran Tierra Energy by 270.3% in the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company's stock valued at $76,000 after buying an additional 11,651 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Gran Tierra Energy in the fourth quarter worth approximately $81,000. nVerses Capital LLC bought a new position in Gran Tierra Energy during the fourth quarter valued at approximately $84,000. XTX Topco Ltd purchased a new position in shares of Gran Tierra Energy during the second quarter valued at $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy in the second quarter worth $97,000. Institutional investors own 31.70% of the company's stock.

Gran Tierra Energy Stock Down 2.4%

Shares of NYSE GTE traded down $0.24 during trading on Friday, hitting $9.87. 183,638 shares of the company traded hands, compared to its average volume of 698,208. The business's fifty day moving average is $7.61 and its 200 day moving average is $7.80. Gran Tierra Energy Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $11.52. The firm has a market capitalization of $349.20 million, a price-to-earnings ratio of 6.90 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.

Analyst Upgrades and Downgrades

Separately, Roth Capital reissued a "buy" rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $9.72.

Insider Activity

In related news, major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $9.16, for a total value of $10,018,401.92. Following the completion of the sale, the insider owned 412,332 shares of the company's stock, valued at approximately $3,776,961.12. This trade represents a 72.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 2,906,889 shares of company stock worth $27,500,035 in the last 90 days. 5.75% of the stock is currently owned by company insiders.

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.