Cyrus Capital Partners, L.P. Sells 200,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $10.03, for a total transaction of $2,006,000.00. Following the sale, the insider now directly owns 28,267,284 shares of the company’s stock, valued at approximately $283,520,858.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 transaction 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 Price Performance

Shares of Garrett Motion stock opened at $10.03 on Thursday. The company’s fifty day simple moving average is $9.23 and its 200-day simple moving average is $8.38. The stock has a market capitalization of $2.39 billion, a PE ratio of -7.72 and a beta of 1.30. Garrett Motion Inc. has a 1-year low of $6.43 and a 1-year high of $10.16.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of Garrett Motion by 2.5% during the 2nd quarter. Stifel Financial Corp now owns 52,365 shares of the company’s stock valued at $396,000 after buying an additional 1,287 shares in the last quarter. UBS Group AG lifted its stake in shares of Garrett Motion by 11.9% during the 3rd quarter. UBS Group AG now owns 13,458 shares of the company’s stock valued at $76,000 after buying an additional 1,436 shares in the last quarter. XTX Topco Ltd increased its holdings in Garrett Motion by 8.4% in the 1st quarter. XTX Topco Ltd now owns 33,326 shares of the company’s stock valued at $255,000 after acquiring an additional 2,575 shares during the last quarter. Comerica Bank increased its holdings in Garrett Motion by 238.0% in the 4th quarter. Comerica Bank now owns 3,677 shares of the company’s stock valued at $36,000 after acquiring an additional 2,589 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Garrett Motion by 4.6% in the 1st quarter. Bank of Montreal Can now owns 60,144 shares of the company’s stock valued at $441,000 after acquiring an additional 2,651 shares during the last quarter. Hedge funds and other institutional investors 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.