Insider Selling: Garrett Motion Inc. (NYSE:GTX) SVP Sells 50,000 Shares of Stock

Garrett Motion Inc. (NYSE:GTX) SVP Thierry Mabru sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $7.47, for a total value of $373,500.00. Following the completion of the transaction, the senior vice president now directly owns 140,509 shares in the company, valued at approximately $1,049,602.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Garrett Motion Stock Performance

Shares of GTX traded down $0.40 during mid-day trading on Thursday, hitting $7.43. 705,612 shares of the stock were exchanged, compared to its average volume of 932,365. The company has a market cap of $1.59 billion, a PE ratio of -6.46 and a beta of 1.15. Garrett Motion Inc. has a 52-week low of $7.03 and a 52-week high of $10.16. The firm has a 50-day moving average of $8.05 and a two-hundred day moving average of $8.61.

Garrett Motion (NYSE:GTX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.06). The firm had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $854.00 million. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. During the same period last year, the company earned $0.23 earnings per share. On average, sell-side analysts predict that Garrett Motion Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Garrett Motion in a report on Friday, October 25th.

Institutional Trading of Garrett Motion

Several hedge funds have recently modified their holdings of GTX. Quarry LP increased its position in shares of Garrett Motion by 54.8% during the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock valued at $44,000 after purchasing an additional 1,830 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $67,000. Caprock Group LLC bought a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $103,000. SG Americas Securities LLC bought a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $118,000. Finally, MBB Public Markets I LLC bought a new position in shares of Garrett Motion during the 2nd quarter valued at approximately $131,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.