Special Credit Pa Centerbridge Sells 500,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $9.45, for a total value of $4,725,000.00. Following the sale, the insider now owns 9,949,894 shares of the company’s stock, valued at approximately $94,026,498.30. This represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The shares were sold at an average price of $9.94, for a total value of $875,326.34.

Garrett Motion Stock Performance

GTX opened at $9.46 on Friday. The business has a 50 day moving average price of $9.39 and a 200 day moving average price of $8.64. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The firm has a market cap of $1.94 billion, a P/E ratio of 7.45 and a beta of 1.09.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a report on Tuesday, February 25th.

Institutional Investors Weigh In On Garrett Motion

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTX. Gates Capital Management Inc. acquired a new stake in Garrett Motion in the 4th quarter worth approximately $40,068,000. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Garrett Motion in the 4th quarter worth approximately $15,442,000. Frontier Capital Management Co. LLC acquired a new stake in Garrett Motion in the 4th quarter worth approximately $13,147,000. Public Employees Retirement System of Ohio acquired a new stake in Garrett Motion in the 3rd quarter worth approximately $5,928,000. Finally, Prevatt Capital Ltd lifted its holdings in Garrett Motion by 18.2% in the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock worth $29,348,000 after purchasing an additional 500,000 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.

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.