Garmin Ltd. (NYSE:GRMN) Short Interest Update

Garmin Ltd. (NYSE:GRMN) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,750,000 shares, a decline of 6.5% from the January 15th total of 2,940,000 shares. Based on an average trading volume of 782,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.8% of the shares of the company are sold short.

Insider Activity

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now directly owns 27,612 shares in the company, valued at $5,743,019.88. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.54% of the company’s stock.

Institutional Investors Weigh In On Garmin

A number of institutional investors and hedge funds have recently bought and sold shares of GRMN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Garmin by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company’s stock valued at $206,074,000 after buying an additional 135,135 shares in the last quarter. Waverly Advisors LLC acquired a new position in shares of Garmin in the 4th quarter worth $231,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Garmin during the fourth quarter worth $922,000. Woodline Partners LP lifted its holdings in shares of Garmin by 677.5% during the fourth quarter. Woodline Partners LP now owns 9,260 shares of the scientific and technical instruments company’s stock valued at $1,910,000 after purchasing an additional 8,069 shares during the last quarter. Finally, Vident Advisory LLC boosted its position in shares of Garmin by 3.7% in the 4th quarter. Vident Advisory LLC now owns 6,916 shares of the scientific and technical instruments company’s stock valued at $1,427,000 after purchasing an additional 246 shares during the period. 81.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GRMN shares. Tigress Financial raised their price target on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a report on Monday, December 16th. Barclays raised their target price on shares of Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.00.

Garmin Price Performance

Shares of Garmin stock traded up $2.14 during trading on Monday, hitting $212.37. The stock had a trading volume of 892,163 shares, compared to its average volume of 645,349. The business has a fifty day moving average of $212.77 and a two-hundred day moving average of $193.88. Garmin has a fifty-two week low of $121.20 and a fifty-two week high of $223.33. The firm has a market cap of $40.78 billion, a P/E ratio of 26.95, a PEG ratio of 1.33 and a beta of 0.98.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.