Garrett Motion Inc. (NASDAQ:GTXAP – Get Rating) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 15,900 shares, a decline of 14.1% from the February 28th total of 18,500 shares. Based on an average daily trading volume, of 41,900 shares, the short-interest ratio is currently 0.4 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Skaana Management L.P. grew its stake in Garrett Motion by 70.5% in the fourth quarter. Skaana Management L.P. now owns 1,584,013 shares of the company's stock valued at $13,781,000 after purchasing an additional 655,150 shares in the last quarter. CSS LLC IL boosted its stake in shares of Garrett Motion by 59.4% during the 4th quarter. CSS LLC IL now owns 682,809 shares of the company's stock worth $5,883,000 after acquiring an additional 254,572 shares in the last quarter. Jet Capital Investors L P bought a new stake in shares of Garrett Motion during the 4th quarter worth about $6,807,000. EVR Research LP boosted its stake in shares of Garrett Motion by 447.7% during the 4th quarter. EVR Research LP now owns 1,665,000 shares of the company's stock worth $12,687,000 after acquiring an additional 1,361,000 shares in the last quarter. Finally, Penn Mutual Asset Management LLC bought a new stake in shares of Garrett Motion during the 4th quarter worth about $391,000.
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Garrett Motion Trading Up 5.2 %
NASDAQ:GTXAP traded up $0.44 during trading hours on Friday, hitting $8.89. 16,006 shares of the company's stock traded hands, compared to its average volume of 39,453. Garrett Motion has a twelve month low of $6.75 and a twelve month high of $9.56. The stock has a fifty day moving average price of $8.83.
Garrett Motion Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 22nd will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 21st. This represents a $0.68 dividend on an annualized basis and a yield of 7.65%.
About Garrett Motion
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Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers; and provides automotive software solutions.
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