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 business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $9.41, for a total transaction 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 document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $9.45, for a total transaction of $4,725,000.00.
• On Thursday, February 27th, Special Credit Pa Centerbridge sold 349,351 shares of Garrett Motion stock. The shares were sold at an average price of $9.96, for a total transaction of $3,479,535.96.
• On Tuesday, February 25th, Special Credit Pa Centerbridge sold 88,061 shares of Garrett Motion stock. The shares were sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Price Performance

Shares of Garrett Motion stock opened at $9.09 on Wednesday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 7.16 and a beta of 1.09. The firm’s 50-day moving average is $9.40 and its 200 day moving average is $8.66. Garrett Motion Inc. has a 1 year low of $7.13 and a 1 year high of $10.39.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Garrett Motion

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New South Capital Management Inc. increased its position in shares of Garrett Motion by 19.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,710,242 shares of the company’s stock valued at $22,170,000 after purchasing an additional 431,779 shares during the last quarter. Barclays PLC increased its holdings in Garrett Motion by 85.2% in the 3rd quarter. Barclays PLC now owns 297,022 shares of the company’s stock worth $2,430,000 after acquiring an additional 136,600 shares in the last quarter. Pekin Hardy Strauss Inc. increased its holdings in Garrett Motion by 63.9% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 155,450 shares of the company’s stock worth $1,272,000 after acquiring an additional 60,600 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Garrett Motion by 25.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,283,763 shares of the company’s stock worth $10,501,000 after acquiring an additional 256,366 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Garrett Motion in the 4th quarter worth approximately $15,442,000. Institutional investors own 86.27% of the company’s stock.

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.