Orchard Capital Management LLC Has $9.89 Million Holdings in Garrett Motion Inc. (NYSE:GTX)

Orchard Capital Management LLC cut its stake in Garrett Motion Inc. (NYSE:GTX) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,151,474 shares of the company’s stock after selling 16,225 shares during the period. Garrett Motion comprises approximately 3.0% of Orchard Capital Management LLC’s holdings, making the stock its 16th largest holding. Orchard Capital Management LLC owned approximately 0.51% of Garrett Motion worth $9,891,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Lingotto Investment Management LLP acquired a new position in shares of Garrett Motion in the 2nd quarter worth approximately $6,872,000. Pekin Hardy Strauss Inc. increased its holdings in Garrett Motion by 2.2% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 94,850 shares of the company’s stock valued at $815,000 after purchasing an additional 2,000 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Garrett Motion by 45.2% during the 2nd quarter. Moors & Cabot Inc. now owns 67,500 shares of the company’s stock valued at $580,000 after purchasing an additional 21,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Garrett Motion by 17.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,278,327 shares of the company’s stock valued at $19,570,000 after purchasing an additional 335,472 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in Garrett Motion by 7.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,027,397 shares of the company’s stock valued at $8,825,000 after purchasing an additional 75,576 shares in the last quarter. 86.27% of the stock is owned by institutional investors and hedge funds.

Garrett Motion Price Performance

GTX stock opened at $8.13 on Friday. The business has a fifty day moving average price of $8.41 and a 200 day moving average price of $8.97. Garrett Motion Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $10.16. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -7.07 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $950.00 million. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. During the same period last year, the firm posted ($1.88) EPS. On average, equities analysts expect that Garrett Motion Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the sale, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of Garrett Motion stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total value of $37,827.79. Following the completion of the sale, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia Steyn sold 14,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total value of $122,780.00. Following the completion of the transaction, the director now owns 53,781 shares in the company, valued at $471,659.37. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a report on Thursday.

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.