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

Garrett Motion Inc. (NYSE:GTX) major shareholder Special Credit Pa Centerbridge sold 520,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 9,795,684 shares in the company, valued at $92,177,386.44. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 stock was 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 stock was sold at an average price of $9.94, for a total transaction of $875,326.34.

Garrett Motion Stock Down 1.8 %

Shares of NYSE GTX opened at $9.09 on Wednesday. Garrett Motion Inc. has a 52 week low of $7.13 and a 52 week high of $10.39. The firm’s fifty day moving average is $9.40 and its 200 day moving average is $8.66. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 7.16 and a beta of 1.09.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new position in shares of Garrett Motion in the fourth quarter worth $297,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Garrett Motion by 10.5% during 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 purchasing an additional 13,363 shares during the period. State of Wyoming increased its position in Garrett Motion by 34.4% during the 4th quarter. State of Wyoming now owns 73,968 shares of the company’s stock valued at $668,000 after purchasing an additional 18,946 shares during the period. Prevatt Capital Ltd increased its position in Garrett Motion by 18.2% during the 4th quarter. Prevatt Capital Ltd now owns 3,250,000 shares of the company’s stock valued at $29,348,000 after purchasing an additional 500,000 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in Garrett Motion during the 4th quarter valued at $361,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

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.