AlphaQuest LLC Lowers Holdings in Garrett Motion Inc. (NYSE:GTX)

AlphaQuest LLC trimmed its position in shares of Garrett Motion Inc. (NYSE:GTX) by 29.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,235 shares of the company’s stock after selling 16,711 shares during the period. AlphaQuest LLC’s holdings in Garrett Motion were worth $363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Eubel Brady & Suttman Asset Management Inc. bought a new position in shares of Garrett Motion in the fourth quarter worth approximately $15,442,000. Public Employees Retirement System of Ohio purchased a new position in Garrett Motion in the 3rd quarter worth approximately $5,928,000. Four Tree Island Advisory LLC bought a new position in Garrett Motion in the 4th quarter valued at approximately $3,060,000. Seizert Capital Partners LLC boosted its stake in Garrett Motion by 76.6% during the 3rd quarter. Seizert Capital Partners LLC now owns 659,132 shares of the company’s stock valued at $5,392,000 after purchasing an additional 285,918 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Garrett Motion by 1,154.5% during the 4th quarter. Bank of New York Mellon Corp now owns 296,477 shares of the company’s stock valued at $2,677,000 after purchasing an additional 272,843 shares during the last quarter. 86.27% of the stock is currently owned by institutional investors.

Garrett Motion Stock Performance

GTX opened at $8.68 on Friday. The company’s 50-day simple moving average is $9.39 and its two-hundred day simple moving average is $8.66. Garrett Motion Inc. has a 52-week low of $7.13 and a 52-week high of $10.39. The stock has a market capitalization of $1.78 billion, a P/E ratio of 6.83 and a beta of 1.09.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Special Credit Pa Centerbridge sold 88,061 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34. Following the completion of the sale, the insider now owns 10,395,183 shares of the company’s stock, valued at $103,328,119.02. The trade was a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 1,457,412 shares of company stock worth $13,973,062. 0.60% of the stock is owned by insiders.

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.