Fintel reports that Baupost Group has filed a 13D/A form with the SEC disclosing ownership of 21.14MM shares of Garrett Motion Inc – New (GTX). This represents 7.96% of the company.
In their previous filing dated June 15, 2023 they reported 26.57MM shares and 9.99% of the company, a decrease in shares of 27.25% and a decrease in total ownership of 2.03% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 105.09% Upside
As of July 6, 2023, the average one-year price target for Garrett Motion Inc – is 15.30. The forecasts range from a low of 15.15 to a high of $15.75. The average price target represents an increase of 105.09% from its latest reported closing price of 7.46.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Garrett Motion Inc – is 3,950MM, an increase of 7.57%. The projected annual non-GAAP EPS is 1.13.
What is the Fund Sentiment?
There are 269 funds or institutions reporting positions in Garrett Motion Inc -. This is a decrease of 10 owner(s) or 3.58% in the last quarter. Average portfolio weight of all funds dedicated to GTX is 0.20%, a decrease of 2.84%. Total shares owned by institutions increased in the last three months by 5.80% to 52,290K shares. The put/call ratio of GTX is 0.48, indicating a bullish outlook.
What are Other Shareholders Doing?
Cyrus Capital Partners holds 10,220K shares representing 15.73% ownership of the company. No change in the last quarter.
Sessa Capital IM holds 6,912K shares representing 10.64% ownership of the company. No change in the last quarter.
Oaktree Capital Management holds 3,593K shares representing 5.53% ownership of the company. No change in the last quarter.
Centerbridge Partners holds 3,390K shares representing 5.22% ownership of the company. No change in the last quarter.
Forager Capital Management holds 2,244K shares representing 3.45% ownership of the company. In it’s prior filing, the firm reported owning 2,089K shares, representing an increase of 6.91%. The firm decreased its portfolio allocation in GTX by 5.85% over the last quarter.
Garrett Motion Background Information
(This description is provided by the company.)
Garrett Motion is a differentiated technology leader, serving customers worldwide for more than 65 years with passenger vehicle, commercial vehicle, aftermarket replacement and performance enhancement solutions. Garrett’s cutting-edge technology enables vehicles to become safer, more connected, efficient and environmentally friendly. The Company’s portfolio of turbocharging, electric boosting and automotive software solutions empowers the transportation industry to redefine and further advance motion.
This article originally appeared on Fintel
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