Armistice Capital LLC Sells 21,871 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Armistice Capital LLC decreased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 68.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,049 shares of the company’s stock after selling 21,871 shares during the period. Armistice Capital LLC’s holdings in Goodyear Tire & Rubber were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GT. Vanguard Group Inc. lifted its stake in shares of Goodyear Tire & Rubber by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after buying an additional 765,529 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Goodyear Tire & Rubber by 48.2% during the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after acquiring an additional 4,870,381 shares during the period. American Century Companies Inc. increased its position in Goodyear Tire & Rubber by 16.2% in the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after buying an additional 1,013,550 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Goodyear Tire & Rubber by 9.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,180,322 shares of the company’s stock worth $59,862,000 after acquiring an additional 353,758 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Goodyear Tire & Rubber by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock worth $54,609,000 after purchasing an additional 148,566 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Up 4.1 %

Shares of NASDAQ:GT opened at $8.35 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The business has a 50 day moving average of $8.96 and a two-hundred day moving average of $11.08. The company has a market capitalization of $2.38 billion, a PE ratio of -3.69 and a beta of 1.70.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.34) EPS. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GT. Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.