Special Credit Pa Centerbridge Sells 520,000 Shares of Garrett Motion Inc. (NYSE:GTX) Stock

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $9.41, for a total value of $4,893,200.00. Following the transaction, the insider now directly owns 9,795,684 shares in the company, valued at approximately $92,177,386.44. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, March 5th, Special Credit Pa Centerbridge sold 500,000 shares of Garrett Motion stock. The stock was sold at an average price of $9.45, for a total value of $4,725,000.00.
• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The stock was 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 value of $875,326.34.

Garrett Motion Price Performance

NYSE GTX opened at $8.96 on Thursday. The stock’s fifty day moving average price is $9.40 and its 200 day moving average price is $8.66. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 7.06 and a beta of 1.09.

Hedge Funds Weigh In On Garrett Motion

Several hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC acquired a new position in shares of Garrett Motion in the 4th quarter valued at $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Garrett Motion by 10.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,098 shares of the company’s stock valued at $1,265,000 after acquiring an additional 13,363 shares during the period. State of Wyoming increased its position in shares of Garrett Motion by 34.4% in the 4th quarter. State of Wyoming now owns 73,968 shares of the company’s stock valued at $668,000 after acquiring an additional 18,946 shares during the period. Prevatt Capital Ltd increased its position in shares of Garrett Motion by 18.2% in the 4th 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 period. Finally, Quantinno Capital Management LP acquired a new position in shares of Garrett Motion in the 4th quarter valued at $361,000. 86.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.