Financial Management Professionals Inc. Trims Stock Holdings in Garrett Motion Inc. (NYSE:GTX)

Financial Management Professionals Inc. trimmed its position in Garrett Motion Inc. (NYSE:GTX) by 47.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,659 shares of the company’s stock after selling 7,685 shares during the period. Financial Management Professionals Inc.’s holdings in Garrett Motion were worth $71,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Julia Steyn sold 14,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.77, for a total transaction of $122,780.00. Following the transaction, the director now directly owns 53,781 shares of the company’s stock, valued at $471,659.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

Garrett Motion Stock Up 0.7 %

Shares of GTX opened at $7.44 on Monday. Garrett Motion Inc. has a 52 week low of $6.93 and a 52 week high of $10.16. The business has a 50-day simple moving average of $8.08 and a two-hundred day simple moving average of $8.64. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 7.37 and a beta of 1.15.

Garrett Motion (NYSE:GTX) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $950.00 million. During the same period last year, the company earned ($1.88) EPS. On average, equities analysts anticipate that Garrett Motion Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.