MQS Management LLC Takes $132,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

MQS Management LLC acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,909 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Goodyear Tire & Rubber by 3,921.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after purchasing an additional 4,633,368 shares during the period. National Bank of Canada FI raised its stake in Goodyear Tire & Rubber by 2,944.7% during the 1st quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock valued at $21,600,000 after purchasing an additional 1,611,966 shares during the period. AQR Capital Management LLC raised its stake in Goodyear Tire & Rubber by 91.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after purchasing an additional 1,211,519 shares during the period. American Century Companies Inc. raised its stake in Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares during the period. Finally, Vanguard Group Inc. raised its stake in Goodyear Tire & Rubber by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock valued at $410,082,000 after purchasing an additional 765,529 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.6 %

GT stock opened at $9.27 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24. The company has a 50-day moving average of $8.50 and a two-hundred day moving average of $10.08. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -8.91 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber 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.