147,189 Shares in Garrett Motion Inc. (NYSE:GTX) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in Garrett Motion Inc. (NYSE:GTX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 147,189 shares of the company’s stock, valued at approximately $1,204,000. Assenagon Asset Management S.A. owned about 0.07% of Garrett Motion as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after buying an additional 1,830 shares during the last quarter. nVerses Capital LLC bought a new stake in Garrett Motion in the 2nd quarter valued at about $67,000. Caprock Group LLC bought a new stake in Garrett Motion in the 2nd quarter valued at about $103,000. SG Americas Securities LLC bought a new stake in Garrett Motion in the 2nd quarter valued at about $118,000. Finally, MBB Public Markets I LLC bought a new stake in Garrett Motion in the 2nd quarter valued at about $131,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Thierry Mabru sold 50,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total transaction of $373,500.00. Following the sale, the senior vice president now directly owns 140,509 shares in the company, valued at $1,049,602.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Garrett Motion Stock Performance

Shares of Garrett Motion stock opened at $7.55 on Friday. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.16. The stock’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $8.59. The stock has a market capitalization of $1.61 billion, a P/E ratio of 7.28 and a beta of 1.17.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $854.00 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. Equities research analysts forecast that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $12.00 price objective on shares of Garrett Motion in a research note on Friday, October 25th.

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.