Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $580,727.76 in Stock

Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of Garrett Motion stock in a transaction on Monday, April 8th. The stock was sold at an average price of $9.96, for a total transaction of $580,727.76. Following the completion of the transaction, the insider now directly owns 27,613,066 shares in the company, valued at $275,026,137.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Monday, April 1st, Cyrus Capital Partners, L.P. sold 163,027 shares of Garrett Motion stock. The shares were sold at an average price of $10.00, for a total value of $1,630,270.00.
• On Wednesday, March 27th, Cyrus Capital Partners, L.P. sold 250,000 shares of Garrett Motion stock. The stock was sold at an average price of $10.01, for a total value of $2,502,500.00.
• On Monday, March 25th, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The shares were sold at an average price of $10.03, for a total value of $2,006,000.00.
• On Friday, March 22nd, Cyrus Capital Partners, L.P. sold 260,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.87, for a total value of $2,566,200.00.
• On Thursday, February 22nd, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The shares were sold at an average price of $9.35, for a total transaction of $1,870,000.00.
• On Thursday, February 15th, Cyrus Capital Partners, L.P. sold 29,860 shares of Garrett Motion stock. The stock was sold at an average price of $9.20, for a total transaction of $274,712.00.

Garrett Motion Price Performance

Shares of GTX traded down $0.07 during trading hours on Wednesday, hitting $9.93. The stock had a trading volume of 1,579,438 shares, compared to its average volume of 1,054,979. The firm has a market capitalization of $2.37 billion, a PE ratio of -7.69 and a beta of 1.31. Garrett Motion Inc. has a 12 month low of $6.43 and a 12 month high of $10.16. The stock has a fifty day moving average price of $9.42 and a 200 day moving average price of $8.52.

Garrett Motion (NYSE:GTX - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. The business had revenue of $945.00 million for the quarter, compared to analysts' expectations of $949.00 million. As a group, analysts anticipate that Garrett Motion Inc. will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a "buy" rating and issued a $15.00 target price on shares of Garrett Motion in a report on Monday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Towerview LLC raised its holdings in Garrett Motion by 81.2% in the 3rd quarter. Towerview LLC now owns 140,000 shares of the company's stock worth $1,103,000 after purchasing an additional 62,725 shares during the period. Swiss National Bank grew its holdings in Garrett Motion by 188.7% during the third quarter. Swiss National Bank now owns 204,400 shares of the company's stock valued at $1,611,000 after purchasing an additional 133,600 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Garrett Motion in the third quarter worth about $528,000. Gamco Investors INC. ET AL raised its stake in shares of Garrett Motion by 15.3% in the third quarter. Gamco Investors INC. ET AL now owns 2,068,393 shares of the company's stock worth $16,299,000 after buying an additional 274,204 shares during the period. Finally, Hawk Ridge Capital Management LP lifted its position in shares of Garrett Motion by 8.8% during the 3rd quarter. Hawk Ridge Capital Management LP now owns 7,328,854 shares of the company's stock valued at $57,751,000 after buying an additional 593,300 shares in the last quarter. Hedge funds and other institutional investors own 86.27% of the company's stock.

About Garrett Motion

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.

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