Newbridge Financial Services Group Inc. Sells 302 Shares of Garmin Ltd. (NYSE:GRMN)

Newbridge Financial Services Group Inc. decreased its stake in Garmin Ltd. (NYSE:GRMN) by 64.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165 shares of the scientific and technical instruments company’s stock after selling 302 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Garmin were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRMN. Clearstead Trust LLC bought a new position in Garmin during the first quarter worth about $30,000. Family Firm Inc. bought a new position in Garmin during the second quarter worth about $35,000. Benjamin Edwards Inc. boosted its holdings in Garmin by 73.3% during the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the last quarter. Headlands Technologies LLC bought a new position in Garmin during the second quarter worth about $46,000. Finally, West Oak Capital LLC bought a new position in Garmin during the second quarter worth about $53,000. Institutional investors own 73.41% of the company’s stock.

Garmin Stock Performance

Shares of Garmin stock opened at $170.03 on Friday. The business’s 50 day simple moving average is $174.61 and its 200 day simple moving average is $164.32. Garmin Ltd. has a 52-week low of $99.61 and a 52-week high of $184.42. The firm has a market cap of $32.66 billion, a PE ratio of 23.98, a P/E/G ratio of 3.04 and a beta of 0.99.

Garmin (NYSE:GRMN) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Garmin had a return on equity of 17.09% and a net margin of 24.36%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $1.45 EPS. Garmin’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Garmin Ltd. will post 6.05 EPS for the current year.

Insider Activity at Garmin

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares in the company, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,892 shares of company stock valued at $2,296,174. 19.54% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GRMN shares. Barclays lowered Garmin from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $181.00 to $133.00 in a research report on Friday, September 13th. StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Tigress Financial raised their price target on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Garmin currently has an average rating of “Hold” and an average price target of $152.17.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.