Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells 520,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.41, for a total value of $4,893,200.00. Following the sale, the insider now directly owns 9,795,684 shares in the company, valued at $92,177,386.44. This represents a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Wednesday, March 5th, Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.45, for a total value of $4,725,000.00.
• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total value of $875,326.34.

Garrett Motion Trading Down 1.8 %

Shares of NYSE GTX traded down $0.17 during mid-day trading on Tuesday, reaching $9.09. The company had a trading volume of 1,104,153 shares, compared to its average volume of 924,225. The firm has a 50 day simple moving average of $9.40 and a two-hundred day simple moving average of $8.66. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The stock has a market cap of $1.86 billion, a P/E ratio of 7.16 and a beta of 1.09.

Hedge Funds Weigh In On Garrett Motion

Several institutional investors have recently added to or reduced their stakes in GTX. Atria Investments Inc acquired a new position in Garrett Motion in the 3rd quarter valued at $237,000. Covestor Ltd acquired a new position in shares of Garrett Motion during the third quarter worth about $28,000. Entropy Technologies LP raised its holdings in Garrett Motion by 17.0% during the third quarter. Entropy Technologies LP now owns 17,915 shares of the company’s stock worth $147,000 after purchasing an additional 2,600 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Garrett Motion in the third quarter valued at about $616,000. Finally, New South Capital Management Inc. boosted its holdings in Garrett Motion by 19.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after purchasing an additional 431,779 shares in the last quarter. Institutional investors and hedge funds own 86.27% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial reiterated a “buy” rating and issued a $12.00 price target on shares of Garrett Motion in a research note on Tuesday, February 25th.

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.