Assenagon Asset Management S.A. Makes New $2.03 Million Investment in Garrett Motion Inc. (NYSE:GTX)

Assenagon Asset Management S.A. purchased a new position in Garrett Motion Inc. (NYSE:GTX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 203,772 shares of the company's stock, valued at approximately $2,025,000. Assenagon Asset Management S.A. owned about 0.09% of Garrett Motion at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Garrett Motion in the third quarter worth about $43,000. Financial Management Professionals Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter worth about $82,000. Quent Capital LLC lifted its position in shares of Garrett Motion by 27,500.0% in the fourth quarter. Quent Capital LLC now owns 11,040 shares of the company's stock worth $107,000 after buying an additional 11,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Garrett Motion in the fourth quarter worth about $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Garrett Motion by 83.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,738 shares of the company's stock worth $92,000 after buying an additional 5,328 shares during the last quarter. Institutional investors and hedge funds own 86.27% of the company's stock.

Insider Buying and Selling at Garrett Motion

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $9.96, for a total value of $580,727.76. Following the completion of the transaction, the insider now owns 27,613,066 shares of the company's stock, valued at approximately $275,026,137.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Garrett Motion news, major shareholder Sessa Capital Gp, Llc sold 10,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $9.00, for a total value of $90,000,000.00. Following the completion of the transaction, the insider now owns 15,236,484 shares of the company's stock, valued at approximately $137,128,356. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $9.96, for a total value of $580,727.76. Following the completion of the sale, the insider now owns 27,613,066 shares in the company, valued at $275,026,137.36. The disclosure for this sale can be found here. Insiders sold a total of 11,131,333 shares of company stock valued at $101,155,698 in the last quarter. Corporate insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a "buy" rating and set a $15.00 price objective on shares of Garrett Motion in a research report on Monday, April 8th.

Garrett Motion Price Performance

Shares of NYSE GTX traded down $0.16 during trading hours on Monday, hitting $9.31. 899,288 shares of the company's stock were exchanged, compared to its average volume of 1,040,344. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.10 and a beta of 1.27. The company's 50-day moving average price is $9.62 and its 200-day moving average price is $8.95.

Garrett Motion (NYSE:GTX - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. The business had revenue of $915.00 million during the quarter, compared to analysts' expectations of $938.00 million. On average, research analysts expect that Garrett Motion Inc. will post 1.12 earnings per share for the current year.

Garrett Motion Company 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.

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