Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $2,502,500.00 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 250,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $10.01, for a total value of $2,502,500.00. Following the completion of the sale, the insider now directly owns 28,017,284 shares of the company’s stock, valued at $280,453,012.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cyrus Capital Partners, L.P. also recently made the following trade(s):

• On Monday, March 25th, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $10.03, for a total value of $2,006,000.00.
• On Friday, March 22nd, Cyrus Capital Partners, L.P. sold 260,000 shares of Garrett Motion stock. The shares were sold at an average price of $9.87, for a total value of $2,566,200.00.
• On Thursday, February 22nd, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.35, for a total transaction of $1,870,000.00.
• On Thursday, February 15th, Cyrus Capital Partners, L.P. sold 29,860 shares of Garrett Motion stock. The stock was sold at an average price of $9.20, for a total transaction of $274,712.00.

Garrett Motion Stock Performance

Shares of NYSE GTX traded down $0.09 during midday trading on Thursday, hitting $9.94. The company’s stock had a trading volume of 1,770,408 shares, compared to its average volume of 1,060,833. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16. The firm’s fifty day moving average price is $9.23 and its 200-day moving average price is $8.38. The firm has a market cap of $2.37 billion, a P/E ratio of -7.72 and a beta of 1.30.

Garrett Motion (NYSE:GTX) last issued its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $945.00 million during the quarter, compared to the consensus estimate of $949.00 million. Garrett Motion had a negative return on equity of 49.01% and a net margin of 6.72%. As a group, research analysts predict that Garrett Motion Inc. will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cyrus Capital Partners L.P. boosted its stake in Garrett Motion by 241.4% during the 2nd quarter. Cyrus Capital Partners L.P. now owns 34,888,600 shares of the company’s stock valued at $264,107,000 after purchasing an additional 24,668,346 shares during the period. Hawk Ridge Capital Management LP raised its holdings in shares of Garrett Motion by 2.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 7,485,692 shares of the company’s stock valued at $72,387,000 after buying an additional 156,838 shares during the last quarter. Keyframe Capital Partners L.P. boosted its position in shares of Garrett Motion by 241.4% during the second quarter. Keyframe Capital Partners L.P. now owns 5,141,160 shares of the company’s stock worth $38,919,000 after buying an additional 3,635,110 shares during the period. Lonestar Capital Management LLC bought a new position in Garrett Motion in the 2nd quarter worth approximately $23,666,000. Finally, Prevatt Capital Ltd acquired a new stake in Garrett Motion in the 4th quarter valued at approximately $24,188,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

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.