Garrett Motion Inc. (NYSE:GTX) Major Shareholder Cyrus Capital Partners, L.P. Sells 250,000 Shares

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 250,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $10.01, for a total value of $2,502,500.00. Following the completion of the sale, the insider now owns 28,017,284 shares of the company’s stock, valued at $280,453,012.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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, 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 Friday, March 22nd, Cyrus Capital Partners, L.P. sold 260,000 shares of Garrett Motion stock. The shares were 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 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 Stock Down 0.9 %

NYSE GTX opened at $9.94 on Friday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -7.65 and a beta of 1.30. Garrett Motion Inc. has a 52 week low of $6.43 and a 52 week high of $10.16. The business has a 50 day moving average price of $9.25 and a 200-day moving average price of $8.39.

Garrett Motion (NYSE:GTX) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $949.00 million. On average, equities research analysts anticipate that Garrett Motion Inc. will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors have recently bought and sold shares of GTX. Dark Forest Capital Management LP bought a new stake in Garrett Motion during the first quarter worth $35,000. Comerica Bank boosted its position in Garrett Motion by 238.0% in the fourth quarter. Comerica Bank now owns 3,677 shares of the company’s stock worth $36,000 after purchasing an additional 2,589 shares during the last quarter. Quantbot Technologies LP purchased a new position in Garrett Motion in the second quarter worth $37,000. DekaBank Deutsche Girozentrale purchased a new position in Garrett Motion in the third quarter worth $43,000. Finally, Barclays PLC boosted its position in Garrett Motion by 888.6% in the second quarter. Barclays PLC now owns 6,505 shares of the company’s stock worth $49,000 after purchasing an additional 5,847 shares during the last quarter. 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.