Garrett Motion Sees Unusually Large Options Volume (NYSE:GTX)

Garrett Motion Inc. (NYSE:GTX) was the target of unusually large options trading activity on Thursday. Stock traders purchased 8,336 call options on the company. This is an increase of approximately 1,857% compared to the average daily volume of 426 call options.

Insiders Place Their Bets

In other news, insider Centerbridge Credit Partners M sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $12.27, for a total transaction of $110,430,000.00. Following the completion of the sale, the insider owned 4,740,569 shares of the company’s stock, valued at $58,166,781.63. This represents a 65.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cyrus Capital Partners, L.P. sold 350,566 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $13.28, for a total transaction of $4,655,516.48. Following the sale, the insider directly owned 20,009,945 shares of the company’s stock, valued at $265,732,069.60. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,685,545 shares of company stock valued at $145,663,491 in the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Trading of Garrett Motion

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion in the first quarter valued at approximately $42,000. Tower Research Capital LLC TRC acquired a new stake in Garrett Motion during the 2nd quarter worth approximately $45,000. Amalgamated Bank acquired a new stake in Garrett Motion during the 2nd quarter worth approximately $46,000. Caitong International Asset Management Co. Ltd lifted its holdings in Garrett Motion by 4,655.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 4,518 shares of the company’s stock worth $47,000 after buying an additional 4,423 shares in the last quarter. Finally, Vestcor Inc acquired a new stake in Garrett Motion during the 1st quarter worth approximately $61,000. Institutional investors and hedge funds own 86.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Garrett Motion from $17.50 to $17.00 and set a “buy” rating on the stock in a research report on Monday. BNP Paribas Exane assumed coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating and a $14.00 price target on the stock. Zacks Research raised shares of Garrett Motion from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Garrett Motion in a research report on Monday. They set a “hold” rating and a $14.00 price target on the stock. Finally, BNP Paribas assumed coverage on shares of Garrett Motion in a research report on Wednesday, July 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $15.75.

Garrett Motion Price Performance

NYSE GTX opened at $14.93 on Friday. The firm’s 50-day moving average is $13.20 and its two-hundred day moving average is $11.64. Garrett Motion has a 12 month low of $7.01 and a 12 month high of $15.75. The stock has a market capitalization of $3.01 billion, a P/E ratio of 11.76 and a beta of 0.37.

Garrett Motion (NYSE:GTX) last posted its earnings results on Thursday, October 23rd. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Garrett Motion had a net margin of 8.12% and a negative return on equity of 38.75%. During the same period in the previous year, the company earned $0.24 EPS. Garrett Motion’s quarterly revenue was up 9.2% on a year-over-year basis. Garrett Motion has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Garrett Motion will post 1.25 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.