Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 1,093,712 Shares of Stock

Key Points

• Equinox Partners Investment Management sold 1,093,712 Gran Tierra Energy shares at an average price of $9.16, generating approximately $10.0 million. The sale reduced its direct ownership by 72.62% to 412,332 shares.
• Gran Tierra Energy shares fell 5.4% to $8.96, although the stock remains above its 50-day and 200-day moving averages. The company has a market capitalization of approximately $316.8 million.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $9.72; institutional investors and hedge funds own 31.7% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92. Following the completion of the transaction, the insider directly owned 412,332 shares of the company's stock, valued at $3,776,961.12. This trade represents a 72.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total transaction of $5,366,652.80.

Gran Tierra Energy Stock Down 5.4%

Shares of NYSE:GTE traded down $0.51 during trading on Friday, hitting $8.96. 1,075,721 shares of the company were exchanged, compared to its average volume of 690,995. The firm's 50 day moving average price is $7.10 and its 200-day moving average price is $7.36. Gran Tierra Energy Inc. has a 12-month low of $3.09 and a 12-month high of $11.52. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. The stock has a market capitalization of $316.83 million, a P/E ratio of 6.27 and a beta of 0.13.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Roth Capital reissued a "buy" rating on shares of Gran Tierra Energy in a report on Thursday. Canaccord Genuity Group set a $14.00 target price on shares of Gran Tierra Energy in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $9.72.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GTE. Goldman Sachs Group Inc. lifted its holdings in shares of Gran Tierra Energy by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company's stock worth $484,000 after purchasing an additional 6,015 shares during the period. Empowered Funds LLC increased its stake in Gran Tierra Energy by 7.2% in the 1st quarter. Empowered Funds LLC now owns 233,271 shares of the company's stock valued at $1,150,000 after buying an additional 15,719 shares during the period. Creative Planning purchased a new position in Gran Tierra Energy during the 2nd quarter worth $117,000. XTX Topco Ltd acquired a new stake in shares of Gran Tierra Energy in the 2nd quarter worth $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy in the 2nd quarter worth $97,000. Institutional investors and hedge funds own 31.70% of the company's stock.

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.

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