Insider Selling: Gran Tierra Energy (NYSE:GTE) Director Sells 7,750 Shares of Stock

Key Points

• Gran Tierra Energy Director David Smith sold 7,750 shares at an average price of $4.58, reducing his ownership by 11.48%.
• The company's stock rose by 5.7% recently, reaching $4.60, with a market capitalization of $162.34 million.
• Institutional investors have increased their holdings, with LM Asset IM Inc. boosting its position by 13.4% and Bank of America Corp DE increasing its stake by 270.3% during the second quarter.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) Director David Smith sold 7,750 shares of the firm's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $4.58, for a total transaction of $35,495.00. Following the completion of the sale, the director owned 59,750 shares of the company's stock, valued at $273,655. This trade represents a 11.48% 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.

Gran Tierra Energy Stock Up 5.7%

GTE traded up $0.25 on Wednesday, hitting $4.60. The company had a trading volume of 322,333 shares, compared to its average volume of 291,499. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. Gran Tierra Energy Inc. has a 52-week low of $3.34 and a 52-week high of $8.19. The stock has a fifty day simple moving average of $4.09 and a 200-day simple moving average of $4.53. The firm has a market capitalization of $162.34 million, a P/E ratio of 3.22 and a beta of 0.86.

Gran Tierra Energy (NYSE:GTE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. Gran Tierra Energy had a net margin of 7.17% and a return on equity of 11.36%. During the same period last year, the firm earned $1.16 earnings per share.

Analyst Ratings Changes

Separately, Raymond James Financial assumed coverage on shares of Gran Tierra Energy in a report on Friday, June 20th. They issued a "market perform" rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. LM Asset IM Inc. increased its position in shares of Gran Tierra Energy by 13.4% during the second quarter. LM Asset IM Inc. now owns 1,945,800 shares of the company's stock valued at $9,281,000 after acquiring an additional 229,200 shares in the last quarter. Bank of America Corp DE increased its position in shares of Gran Tierra Energy by 270.3% during the second quarter. Bank of America Corp DE now owns 15,962 shares of the company's stock valued at $76,000 after acquiring an additional 11,651 shares in the last quarter. PDT Partners LLC increased its position in shares of Gran Tierra Energy by 76.3% during the second quarter. PDT Partners LLC now owns 27,364 shares of the company's stock valued at $131,000 after acquiring an additional 11,841 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Gran Tierra Energy during the second quarter valued at approximately $235,000. Finally, Equinox Partners Investment Management LLC increased its position in shares of Gran Tierra Energy by 37.2% during the second quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company's stock valued at $24,316,000 after acquiring an additional 1,381,574 shares in the last quarter. Institutional investors own 31.70% of the company's stock.

About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.

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