Worldquant Millennium Advisors LLC Takes Position in Garmin Ltd. (NYSE:GRMN)

Worldquant Millennium Advisors LLC purchased a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,471 shares of the scientific and technical instruments company's stock, valued at approximately $922,000.

A number of other hedge funds also recently made changes to their positions in GRMN. Woodline Partners LP boosted its position in shares of Garmin by 677.5% during the 4th quarter. Woodline Partners LP now owns 9,260 shares of the scientific and technical instruments company's stock valued at $1,910,000 after acquiring an additional 8,069 shares in the last quarter. Vident Advisory LLC boosted its holdings in Garmin by 3.7% during the fourth quarter. Vident Advisory LLC now owns 6,916 shares of the scientific and technical instruments company's stock valued at $1,427,000 after purchasing an additional 246 shares in the last quarter. WBI Investments LLC bought a new stake in shares of Garmin in the 4th quarter valued at approximately $376,000. Twinbeech Capital LP bought a new stake in shares of Garmin in the 4th quarter valued at approximately $3,533,000. Finally, Tidal Investments LLC grew its position in Garmin by 671.7% in the fourth quarter. Tidal Investments LLC now owns 104,417 shares of the scientific and technical instruments company's stock valued at $21,537,000 after acquiring an additional 90,887 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Activity

In other Garmin news, COO Patrick Desbois sold 6,911 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $227.15, for a total transaction of $1,569,833.65. Following the completion of the sale, the chief operating officer now directly owns 63,048 shares of the company's stock, valued at approximately $14,321,353.20. The trade was a 9.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,829 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $215.51, for a total transaction of $609,677.79. Following the transaction, the vice president now owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,342 shares of company stock valued at $5,486,094 over the last three months. 15.38% of the stock is owned by insiders.

Garmin Price Performance

Shares of NYSE:GRMN traded up $3.98 during midday trading on Tuesday, reaching $204.57. The company's stock had a trading volume of 403,044 shares, compared to its average volume of 974,999. The business's fifty day simple moving average is $197.32 and its 200-day simple moving average is $208.43. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The company has a market capitalization of $39.39 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.36 and a beta of 0.99.

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

Analyst Ratings Changes

A number of research analysts have issued reports on GRMN shares. Morgan Stanley lifted their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Tigress Financial lifted their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reduced 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. Finally, Barclays dropped their price objective on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $206.00.

Garmin Company Profile

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.