Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $13,597,091.05 in Stock

Garrett Motion Inc. (NYSE:GTX) 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 value of $13,597,091.05. Following 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 ownership of the stock. The sale was disclosed in a filing 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.

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 shares were sold at an average price of $9.00, for a total value of $1,350,000.00.

Garrett Motion Trading Up 0.6 %

Shares of Garrett Motion stock opened at $9.00 on Friday. Garrett Motion Inc. has a 12-month low of $7.02 and a 12-month high of $10.39. The firm’s 50 day simple moving average is $8.95 and its two-hundred day simple moving average is $8.74. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.08 and a beta of 0.67.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $12.00 price target on shares of Garrett Motion in a research note on Friday, April 4th.

Institutional Trading of Garrett Motion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of Garrett Motion in the first quarter valued at about $2,722,000. Ritholtz Wealth Management increased its holdings in Garrett Motion by 45.1% in the 1st quarter. Ritholtz Wealth Management now owns 65,447 shares of the company’s stock worth $548,000 after buying an additional 20,349 shares during the period. Handelsbanken Fonder AB raised its position in Garrett Motion by 32.4% during the 1st quarter. Handelsbanken Fonder AB now owns 42,100 shares of the company’s stock worth $352,000 after buying an additional 10,300 shares during the last quarter. SG Americas Securities LLC purchased a new position in Garrett Motion during the 1st quarter worth approximately $381,000. Finally, DHK Financial Advisors Inc. acquired a new stake in Garrett Motion during the 1st quarter valued at approximately $445,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Garrett Motion Company Profile

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.