Trexquant Investment LP purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 450,538 shares of the company's stock, valued at approximately $4,163,000. Trexquant Investment LP owned approximately 0.16% of Goodyear Tire & Rubber at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after buying an additional 1,674 shares in the last quarter. UMB Bank n.a. grew its stake in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares in the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber in the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC grew its stake in Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after buying an additional 3,868 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.19% of the company's stock.
Goodyear Tire & Rubber Trading Up 1.0%
NASDAQ:GT traded up $0.08 during midday trading on Friday, reaching $8.50. 8,149,188 shares of the stock traded hands, compared to its average volume of 8,857,670. The company has a fifty day moving average of $9.82 and a 200 day moving average of $10.05. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The stock has a market capitalization of $2.43 billion, a P/E ratio of 5.99, a PEG ratio of 0.75 and a beta of 1.37.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly 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 net margin of 2.22% and a return on equity of 3.17%. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company's quarterly revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on GT. HSBC reissued a "hold" rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, BNP Paribas cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $12.25.
View Our Latest Research Report on Goodyear Tire & Rubber
About Goodyear Tire & Rubber
(
Free Report)
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.
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