Marshall Wace LLP Acquires Shares of 394,812 Garrett Motion Inc. (NYSE:GTX)

Marshall Wace LLP purchased a new stake in Garrett Motion Inc. (NYSE:GTX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 394,812 shares of the company's stock, valued at approximately $3,565,000. Marshall Wace LLP owned approximately 0.18% of Garrett Motion as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Garrett Motion in the 4th quarter valued at $15,442,000. Royce & Associates LP lifted its position in Garrett Motion by 25.6% in the fourth quarter. Royce & Associates LP now owns 2,072,173 shares of the company's stock valued at $18,712,000 after acquiring an additional 422,955 shares during the last quarter. Four Tree Island Advisory LLC acquired a new position in Garrett Motion in the fourth quarter valued at $3,060,000. Bank of New York Mellon Corp grew its holdings in shares of Garrett Motion by 1,154.5% during the fourth quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company's stock worth $2,677,000 after purchasing an additional 272,843 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Garrett Motion by 1,952.2% during the fourth quarter. Teacher Retirement System of Texas now owns 280,965 shares of the company's stock worth $2,537,000 after purchasing an additional 267,274 shares in the last quarter. 86.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the completion of the sale, the insider now directly owns 25,834,957 shares of the company's stock, valued at $233,806,360.85. This trade represents a 5.50 % 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. Also, major shareholder Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96. Following the completion of the transaction, the insider now owns 10,098,173 shares in the company, valued at approximately $100,577,803.08. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,109,853 shares of company stock valued at $28,920,153. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a "buy" rating and issued a $12.00 target price on shares of Garrett Motion in a research report on Friday, April 4th.

Garrett Motion Price Performance

Shares of GTX traded up $0.69 during mid-day trading on Thursday, reaching $9.91. 601,916 shares of the company's stock were exchanged, compared to its average volume of 1,026,049. The business's fifty day simple moving average is $8.91 and its 200-day simple moving average is $8.81. The stock has a market capitalization of $2.02 billion, a PE ratio of 7.81 and a beta of 0.67. Garrett Motion Inc. has a 52-week low of $7.02 and a 52-week high of $10.39.

Garrett Motion Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.