GSA Capital Partners LLP Sells 3,489 Shares of Garmin Ltd. (NYSE:GRMN)

GSA Capital Partners LLP cut its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 30.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,823 shares of the scientific and technical instruments company’s stock after selling 3,489 shares during the period. GSA Capital Partners LLP’s holdings in Garmin were worth $1,377,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in shares of Garmin during the first quarter worth $30,000. University of Texas Texas AM Investment Management Co. acquired a new position in Garmin during the 2nd quarter worth about $31,000. Family Firm Inc. bought a new stake in shares of Garmin in the 2nd quarter valued at about $35,000. Benjamin Edwards Inc. increased its stake in shares of Garmin by 73.3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 99 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Garmin in the second quarter valued at about $46,000. 73.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on GRMN shares. Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a report on Friday, November 1st. Tigress Financial increased their price objective on shares of Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $155.00 to $138.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $162.67.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,055 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the transaction, the insider now directly owns 40,965 shares of the company’s stock, valued at $7,257,359.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Garmin news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the sale, the insider now directly owns 40,965 shares of the company’s stock, valued at approximately $7,257,359.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,479 shares of company stock worth $2,419,502. Corporate insiders own 19.54% of the company’s stock.

Garmin Stock Down 0.3 %

NYSE:GRMN opened at $212.98 on Thursday. The firm has a market capitalization of $40.90 billion, a P/E ratio of 27.03, a P/E/G ratio of 3.25 and a beta of 0.97. Garmin Ltd. has a twelve month low of $117.30 and a twelve month high of $214.83. The company has a fifty day moving average of $178.14 and a 200-day moving average of $171.31.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, analysts anticipate that Garmin Ltd. will post 6.88 EPS for the current fiscal year.

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.