Whitebox Advisors LLC Purchases 130,000 Shares of The Goodyear Tire & Rubber Company $GT

Whitebox Advisors LLC raised its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 871,089 shares of the company’s stock after purchasing an additional 130,000 shares during the period. Whitebox Advisors LLC owned 0.30% of Goodyear Tire & Rubber worth $5,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Focus Partners Wealth bought a new stake in shares of Goodyear Tire & Rubber during the third quarter worth approximately $25,000. EFG International AG bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth $26,000. Parallel Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after acquiring an additional 2,538 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Goodyear Tire & Rubber by 29.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after acquiring an additional 1,749 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $7.21 on Monday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -1.00 and a beta of 1.12. The business’s 50-day moving average price is $6.36 and its two-hundred day moving average price is $7.34. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $11.34. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the firm earned ($0.04) earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities analysts expect that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GT shares. TD Cowen reduced their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Citigroup dropped their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.54.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.