64,254 Shares in Garrett Motion Inc. (NYSE:GTX) Bought by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new stake in Garrett Motion Inc. (NYSE:GTX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 64,254 shares of the company’s stock, valued at approximately $552,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Garrett Motion in the second quarter valued at approximately $67,000. Caprock Group LLC bought a new stake in shares of Garrett Motion in the 2nd quarter valued at $103,000. SG Americas Securities LLC bought a new stake in shares of Garrett Motion in the 2nd quarter valued at $118,000. Financial Management Professionals Inc. increased its position in shares of Garrett Motion by 93.1% during the first quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock worth $162,000 after buying an additional 7,879 shares during the period. Finally, Magnetar Financial LLC bought a new position in Garrett Motion during the second quarter worth $173,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insider Activity

In related news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the transaction, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $8.77, for a total value of $122,780.00. Following the transaction, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $10.01, for a total transaction of $37,827.79. Following the sale, the insider now directly owns 27,337,398 shares of the company’s stock, valued at approximately $273,647,353.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research report on Thursday, September 19th.

Garrett Motion Stock Performance

Shares of GTX stock opened at $7.88 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of -6.85 and a beta of 1.15. 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 50 day simple moving average of $8.13 and a two-hundred day simple moving average of $8.83.

Garrett Motion (NYSE:GTX) last released its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Garrett Motion had a net margin of 6.44% and a negative return on equity of 33.11%. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. During the same quarter in the previous year, the company earned ($1.88) EPS. On average, research analysts predict that Garrett Motion Inc. will post 1.13 earnings per share for the current year.

Garrett Motion 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.