Cyrus Capital Partners, L.P. Sells 260,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Cyrus Capital Partners, L.P. sold 260,000 shares of Garrett Motion stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.87, for a total value of $2,566,200.00. Following the transaction, the insider now directly owns 28,467,284 shares in the company, valued at approximately $280,972,093.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, March 25th, Cyrus Capital Partners, L.P. sold 200,000 shares of Garrett Motion stock. The shares were sold at an average price of $10.03, for a total value of $2,006,000.00.
• 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 value 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 value of $274,712.00.

Garrett Motion Trading Up 2.9 %

Shares of Garrett Motion stock opened at $10.03 on Thursday. The business’s fifty day simple moving average is $9.23 and its 200 day simple moving average is $8.38. The firm has a market capitalization of $2.39 billion, a P/E ratio of -7.72 and a beta of 1.30. Garrett Motion Inc. has a 12 month low of $6.43 and a 12 month high of $10.16.

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

Institutional Trading of Garrett Motion

Hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in shares of Garrett Motion in the first quarter valued at $35,000. Comerica Bank raised its stake in shares of Garrett Motion by 238.0% in the fourth quarter. Comerica Bank now owns 3,677 shares of the company’s stock valued at $36,000 after buying an additional 2,589 shares during the period. Quantbot Technologies LP bought a new stake in shares of Garrett Motion in the second quarter valued at $37,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Garrett Motion in the third quarter valued at $43,000. Finally, Barclays PLC raised its stake in shares of Garrett Motion by 888.6% in the second quarter. Barclays PLC now owns 6,505 shares of the company’s stock valued at $49,000 after buying an additional 5,847 shares during the period. 86.27% of the stock is currently owned by 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.