65,893 Shares in Garrett Motion Inc. (NYSE:GTX) Acquired by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in Garrett Motion Inc. (NYSE:GTX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 65,893 shares of the company’s stock, valued at approximately $539,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd bought a new position in Garrett Motion in the 3rd quarter worth approximately $28,000. Quarry LP boosted its holdings in Garrett Motion by 54.8% in the 2nd quarter. Quarry LP now owns 5,170 shares of the company’s stock worth $44,000 after buying an additional 1,830 shares during the period. Gladius Capital Management LP bought a new position in Garrett Motion in the 3rd quarter worth approximately $58,000. nVerses Capital LLC bought a new position in Garrett Motion in the 2nd quarter worth approximately $67,000. Finally, Paloma Partners Management Co bought a new position in Garrett Motion in the 3rd quarter worth approximately $87,000. 86.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

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.

Insider Activity

In other news, SVP Thierry Mabru sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $7.47, for a total transaction of $373,500.00. Following the sale, the senior vice president now owns 140,509 shares in the company, valued at approximately $1,049,602.23. This trade represents a 26.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Garrett Motion Price Performance

Shares of NYSE:GTX opened at $9.19 on Friday. The firm has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $8.35. Garrett Motion Inc. has a one year low of $7.13 and a one year high of $10.16. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 9.02 and a beta of 1.16.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.06). Garrett Motion had a net margin of 6.54% and a negative return on equity of 31.48%. The firm had revenue of $826.00 million during the quarter, compared to the consensus estimate of $854.00 million. During the same period in the previous year, the business earned $0.23 earnings per share. Equities research analysts expect that Garrett Motion Inc. will post 1.08 EPS for the current fiscal year.

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.