Insider Selling: Garrett Motion Inc. (NYSE:GTX) Major Shareholder Sells $4,725,000.00 in Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $9.45, for a total value of $4,725,000.00. Following the sale, the insider now directly owns 9,949,894 shares of the company’s stock, valued at approximately $94,026,498.30. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Special Credit Pa Centerbridge also recently made the following trade(s):

• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total value of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The stock was sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Stock Up 2.3 %

Garrett Motion stock opened at $9.46 on Monday. Garrett Motion Inc. has a twelve month low of $7.13 and a twelve month high of $10.39. The business has a fifty day moving average of $9.39 and a two-hundred day moving average of $8.65. The firm has a market cap of $1.94 billion, a P/E ratio of 7.45 and a beta of 1.09.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and issued a $12.00 price target on shares of Garrett Motion in a research report on Tuesday, February 25th.

Institutional Investors Weigh In On Garrett Motion

A number of hedge funds have recently made changes to their positions in GTX. Gates Capital Management Inc. bought a new position in Garrett Motion in the fourth quarter worth about $40,068,000. Eubel Brady & Suttman Asset Management Inc. purchased a new position in shares of Garrett Motion in the 4th quarter worth approximately $15,442,000. Frontier Capital Management Co. LLC bought a new position in shares of Garrett Motion during the 4th quarter worth approximately $13,147,000. Public Employees Retirement System of Ohio purchased a new stake in Garrett Motion during the third quarter valued at approximately $5,928,000. Finally, Prevatt Capital Ltd lifted its position in Garrett Motion by 18.2% during the fourth quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after acquiring an additional 500,000 shares during the last quarter. 86.27% of the stock is currently owned by hedge funds and other 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.