Aristeia Capital L.L.C. grew its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 337.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,414 shares of the company’s stock after purchasing an additional 41,195 shares during the period. Aristeia Capital L.L.C.’s holdings in Goodyear Tire & Rubber were worth $606,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Family Firm Inc. acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $28,000. Mather Group LLC. lifted its stake in shares of Goodyear Tire & Rubber by 4,526.3% in the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after acquiring an additional 2,580 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at $33,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.
Goodyear Tire & Rubber Stock Down 2.3 %
Shares of NASDAQ:GT opened at $8.06 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.29 billion, a P/E ratio of -3.57 and a beta of 1.70. The company’s 50-day moving average price is $9.20 and its two-hundred day moving average price is $11.15. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on GT. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Morgan Stanley began coverage on Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.23.
View Our Latest Stock Analysis on Goodyear Tire & Rubber
Goodyear Tire & Rubber Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.
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