Magnetar Financial LLC Makes New Investment in Garrett Motion Inc. (NYSE:GTX)

Magnetar Financial LLC purchased a new stake in shares of Garrett Motion Inc. (NYSE:GTX) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 20,152 shares of the company’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Garrett Motion in the 2nd quarter worth approximately $67,000. Caprock Group LLC purchased a new stake in Garrett Motion during the second quarter valued at about $103,000. SG Americas Securities LLC bought a new position in shares of Garrett Motion during the second quarter valued at about $118,000. Prairiewood Capital LLC purchased a new position in shares of Garrett Motion in the first quarter worth about $135,000. Finally, Financial Management Professionals Inc. lifted its stake in shares of Garrett Motion by 93.1% in the 1st quarter. Financial Management Professionals Inc. now owns 16,344 shares of the company’s stock valued at $162,000 after acquiring an additional 7,879 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Garrett Motion

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 completion of the transaction, the insider now owns 27,337,398 shares in the company, valued at $273,647,353.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Garrett Motion news, Director Julia Steyn sold 14,000 shares of Garrett Motion stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the sale, the director now directly owns 53,781 shares of the company’s stock, valued at approximately $471,659.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $37,827.79. Following the transaction, the insider now owns 27,337,398 shares in the company, valued at approximately $273,647,353.98. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Garrett Motion Stock Down 1.4 %

NYSE:GTX opened at $8.00 on Thursday. The firm has a market capitalization of $1.75 billion, a P/E ratio of -6.96 and a beta of 1.15. Garrett Motion Inc. has a 52 week low of $6.43 and a 52 week high of $10.16. The company has a fifty day moving average of $8.29 and a 200 day moving average of $8.92.

Garrett Motion (NYSE:GTX) last posted its earnings results on Thursday, July 25th. The company reported $0.28 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $950.00 million. During the same period in the prior year, the business posted ($1.88) earnings per share. As a group, analysts anticipate that Garrett Motion Inc. will post 1.13 EPS for the current year.

Garrett Motion Company 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.