Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 260,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 260,000 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $9.87, for a total value of $2,566,200.00. Following the completion of the sale, the insider now owns 28,467,284 shares in the company, valued at approximately $280,972,093.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 25th, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $10.03, for a total value of $2,006,000.00.
• On Thursday, February 22nd, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.35, for a total value of $1,870,000.00.
• On Thursday, February 15th, Cyrus Capital Partners, L.P. sold 29,860 shares of Garrett Motion stock. The shares were sold at an average price of $9.20, for a total value of $274,712.00.

Garrett Motion Price Performance

NYSE GTX traded up $0.03 during trading hours on Tuesday, reaching $9.75. 838,780 shares of the stock traded hands, compared to its average volume of 1,045,376. The stock has a 50 day simple moving average of $9.18 and a two-hundred day simple moving average of $8.36. Garrett Motion Inc. has a 1 year low of $6.43 and a 1 year high of $10.16. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -7.57 and a beta of 1.30.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $949.00 million. On average, sell-side analysts forecast that Garrett Motion Inc. will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in shares of Garrett Motion by 31.0% in the first quarter. Advisor Group Holdings Inc. now owns 12,015 shares of the company’s stock worth $85,000 after purchasing an additional 2,846 shares during the last quarter. Raymond James & Associates boosted its position in shares of Garrett Motion by 53.8% in the 1st quarter. Raymond James & Associates now owns 69,118 shares of the company’s stock worth $497,000 after purchasing an additional 24,170 shares in the last quarter. Bank of Montreal Can raised its holdings in Garrett Motion by 4.6% in the 1st quarter. Bank of Montreal Can now owns 60,144 shares of the company’s stock worth $441,000 after acquiring an additional 2,651 shares during the last quarter. BlackRock Inc. raised its holdings in Garrett Motion by 1.8% in the 1st quarter. BlackRock Inc. now owns 898,030 shares of the company’s stock worth $6,458,000 after acquiring an additional 16,089 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Garrett Motion by 74.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 274,890 shares of the company’s stock worth $1,976,000 after acquiring an additional 117,617 shares during 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.