Mackenzie Financial Corp Invests $1.56 Million in Garrett Motion Inc. (NYSE:GTX)

Mackenzie Financial Corp bought a new position in shares of Garrett Motion Inc. (NYSE:GTX) during the third quarter, Holdings Channel.com reports. The fund bought 211,000 shares of the company’s stock, valued at approximately $1,555,000.

Several other large investors have also recently modified their holdings of GTX. Oaktree Capital Management LP acquired a new position in shares of Garrett Motion during the second quarter worth approximately $28,673,000. Baupost Group LLC MA acquired a new position in shares of Garrett Motion during the second quarter worth approximately $28,529,000. New South Capital Management Inc. acquired a new position in shares of Garrett Motion during the second quarter worth approximately $19,452,000. Newtyn Management LLC acquired a new position in shares of Garrett Motion during the second quarter worth approximately $8,125,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Garrett Motion during the second quarter worth approximately $6,187,000.

Separately, Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a report on Thursday, December 30th.

Shares of Garrett Motion stock opened at $7.43 on Friday. The stock has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $7.37. Garrett Motion Inc. has a 12-month low of $5.32 and a 12-month high of $8.90. The company has a market capitalization of $483.42 million, a P/E ratio of 8.35 and a beta of 1.99.

Garrett Motion (NYSE:GTX) last announced its quarterly earnings results on Thursday, October 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Garrett Motion had a negative return on equity of 18.63% and a net margin of 10.40%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $924.00 million. On average, sell-side analysts anticipate that Garrett Motion Inc. will post 0.64 EPS for the current fiscal year.

Garrett Motion Company Profile

Garrett Motion, Inc provides automobile technology. The firm engages in the designing, manufacturing and selling engineered turbocharger, electric-boosting technologies for light and commercial vehicle original equipment manufacturers. It offers light vehicle gasoline, light vehicle diesel and commercial vehicle turbochargers that enhance vehicle performance, fuel economy and drivability.

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Institutional Ownership by Quarter for Garrett Motion (NYSE:GTX)

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