Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 165,377 Shares

Key Points

• Equinox Partners Investment Management sold 165,377 Gran Tierra Energy shares at an average price of $9.49, generating approximately $1.57 million. The sale reduced its holdings by 31.61%, leaving it with 357,833 shares.
• The shareholder has conducted several additional sales since August 5, including the disposal of 1.09 million shares for roughly $10.02 million, indicating substantial recent selling activity.
• Gran Tierra shares traded at $9.50, while analysts maintained a consensus “Buy” rating and a $9.72 target price; institutional investors and hedge funds own 31.70% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 165,377 shares of Gran Tierra Energy stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $9.49, for a total value of $1,569,427.73. Following the completion of the transaction, the insider owned 357,833 shares of the company's stock, valued at approximately $3,395,835.17. The trade was a 31.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.30, for a total value of $2,311,143.00.
• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.08, for a total transaction of $1,032,441.40.
• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.05, for a total transaction of $944,349.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92.
• 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 Price Performance

GTE stock traded up $0.15 during trading hours on Thursday, hitting $9.50. 1,016,250 shares of the stock traded hands, compared to its average volume of 704,543. The stock has a 50-day simple moving average of $7.18 and a 200 day simple moving average of $7.48. The company has a market cap of $336.11 million, a P/E ratio of 6.64 and a beta of 0.13. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Gran Tierra Energy by 270.3% in the second quarter. Bank of America Corp DE now owns 15,962 shares of the company's stock valued at $76,000 after purchasing an additional 11,651 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Gran Tierra Energy in the fourth quarter worth $81,000. nVerses Capital LLC acquired a new stake in shares of Gran Tierra Energy during the 4th quarter valued at about $84,000. XTX Topco Ltd bought a new stake in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $92,000. Finally, Marshall Wace LLP acquired a new position in Gran Tierra Energy during the second quarter worth $97,000. 31.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Gran Tierra Energy Company Profile

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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