Corsair Capital Management L.P. Purchases 65,008 Shares of Garrett Motion Inc. (NYSE:GTX)

Corsair Capital Management L.P. lifted its position in shares of Garrett Motion Inc. (NYSE:GTX) by 216.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,000 shares of the company’s stock after purchasing an additional 65,008 shares during the period. Corsair Capital Management L.P.’s holdings in Garrett Motion were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GTX. Bank of New York Mellon Corp increased its holdings in Garrett Motion by 91.4% in the third quarter. Bank of New York Mellon Corp now owns 88,757 shares of the company’s stock valued at $699,000 after purchasing an additional 42,376 shares during the period. Arizona State Retirement System acquired a new position in shares of Garrett Motion in the third quarter worth approximately $209,000. Barclays PLC lifted its stake in shares of Garrett Motion by 172.0% in the third quarter. Barclays PLC now owns 17,694 shares of the company’s stock worth $139,000 after acquiring an additional 11,189 shares during the period. Swiss National Bank increased its position in Garrett Motion by 188.7% during the 3rd quarter. Swiss National Bank now owns 204,400 shares of the company’s stock valued at $1,611,000 after purchasing an additional 133,600 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Garrett Motion by 3,567.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,359 shares of the company’s stock valued at $6,394,000 after purchasing an additional 789,238 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Cyrus Capital Partners, L.P. sold 58,306 shares of Garrett Motion stock in a transaction on Monday, April 8th. The shares were sold at an average price of $9.96, for a total value of $580,727.76. Following the completion of the sale, the insider now owns 27,613,066 shares in the company, valued at approximately $275,026,137.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 931,333 shares of company stock worth $9,285,698. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and issued a $15.00 price target on shares of Garrett Motion in a research report on Monday, June 3rd.

Garrett Motion Stock Down 1.9 %

Garrett Motion stock traded down $0.17 during trading hours on Friday, reaching $8.98. 1,092,390 shares of the company’s stock were exchanged, compared to its average volume of 910,353. The firm’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $9.11. Garrett Motion Inc. has a twelve month low of $6.43 and a twelve month high of $10.16. The firm has a market capitalization of $2.03 billion, a PE ratio of -7.81 and a beta of 1.19.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Garrett Motion had a negative return on equity of 35.33% and a net margin of 6.42%. The company had revenue of $915.00 million for the quarter, compared to the consensus estimate of $938.00 million. Analysts anticipate that Garrett Motion Inc. will post 1.12 EPS for the current year.

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.