Garrett Motion Inc. (NYSE:GTX) Major Shareholder Cyrus Capital Partners, L.P. Sells 1,502,441 Shares
Cyrus Capital Partners, L.P., a major shareholder of Garrett Motion Inc. (NYSE:GTX), sold 1,502,441 shares at an average price of $9.05 on April 14, totaling $13,597,091.05. This sale reduced their ownership by 5.50%, leaving them with 25,834,957 shares valued at approximately $233.8 million. The transaction was disclosed to the SEC. Additionally, on April 16, they sold another 150,000 shares at $9.00 each. Garrett Motion's stock price remained stable at $8.94, with a market cap of $1.83 billion and a P/E ratio of 7.04.
Garrett Motion Inc. (NYSE:GTX - Get Free Report) major shareholder Cyrus Capital Partners, L.P. sold 1,502,441 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $9.05, for a total transaction of $13,597,091.05. Following the completion of the transaction, the insider now directly owns 25,834,957 shares in the company, valued at approximately $233,806,360.85. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
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Cyrus Capital Partners, L.P. also recently made the following trade(s):
- On Wednesday, April 16th, Cyrus Capital Partners, L.P. sold 150,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.00, for a total value of $1,350,000.00.
Garrett Motion Price Performance
GTX remained flat at $8.94 on Wednesday. 1,803,815 shares of the company's stock traded hands, compared to its average volume of 1,007,565. Garrett Motion Inc. has a twelve month low of $7.02 and a twelve month high of $10.39. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 7.04 and a beta of 0.67. The business has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $8.74.
Wall Street Analyst Weigh In
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Separately, BWS Financial restated a "buy" rating and set a $12.00 target price on shares of Garrett Motion in a report on Friday, April 4th.
Check Out Our Latest Stock Report on Garrett Motion
Institutional Inflows and Outflows
- Can Garrett Motion Turbocharge A Short Squeeze?
Several institutional investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its position in shares of Garrett Motion by 85.4% during the third quarter. HighTower Advisors LLC now owns 27,221 shares of the company's stock valued at $217,000 after buying an additional 12,542 shares during the last quarter. XTX Topco Ltd purchased a new stake in Garrett Motion in the 3rd quarter worth $132,000. Barclays PLC increased its position in Garrett Motion by 85.2% in the third quarter. Barclays PLC now owns 297,022 shares of the company's stock worth $2,430,000 after purchasing an additional 136,600 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Garrett Motion by 32.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 194,315 shares of the company's stock worth $1,755,000 after purchasing an additional 47,126 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Garrett Motion by 20,649.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 63,493 shares of the company's stock valued at $573,000 after purchasing an additional 63,187 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.
Garrett Motion Company Profile
(Get Free Report)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.
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