2 weeks Ago By Defense World Staff
Garmin Ltd. ( NYSE:GRMN – Get Free Report ) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 3,500,000 shares, an increase of 21.
5% from the August 31st total of 2,880,000 shares. Approximately 2.3% of the shares of the stock are short sold.
Based on an average trading volume of 781,700 shares, the short-interest ratio is presently 4.5 days. Wall Street Analyst Weigh In A number of research firms recently weighed in on GRMN.
Tigress Financial boosted their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th.
Barclays cut shares of Garmin from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $181.00 to $133.00 in a research note on Friday, September 13th.
Finally, StockNews.com downgraded shares of Garmin from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company.
According to data from MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus price target of $152.17. Get Our Latest Stock Analysis on GRMN Garmin Stock Performance Garmin ( NYSE:GRMN – Get Free Report ) last posted its earnings results on Wednesday, July 31st.
The scientific and technical instruments company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.
18. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.
42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.
09%. Garmin’s revenue for the quarter was up 14.3% on a year-over-year basis.
During the same period in the prior year, the business posted $1.45 earnings per share. Equities research analysts predict that Garmin will post 6.
05 EPS for the current fiscal year. Insider Buying and Selling at Garmin In other news, Director Philip Straub sold 2,750 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $181.
46, for a total transaction of $499,015.00. Following the completion of the transaction, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.
12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . In related news, Director Philip Straub sold 2,750 shares of the company’s stock in a transaction on Friday, August 30th.
The shares were sold at an average price of $181.46, for a total value of $499,015.00.
Following the completion of the transaction, the director now directly owns 88,622 shares in the company, valued at $16,081,348.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink .
Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total value of $1,781,343.
80. Following the completion of the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40.
The disclosure for this sale can be found here . Insiders have sold a total of 12,892 shares of company stock valued at $2,296,174 in the last 90 days. Corporate insiders own 19.
54% of the company’s stock. Hedge Funds Weigh In On Garmin A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Trust LLC bought a new position in Garmin in the 1st quarter worth $30,000.
University of Texas Texas AM Investment Management Co. purchased a new position in shares of Garmin during the second quarter valued at about $31,000. Family Firm Inc.
bought a new position in Garmin in the second quarter worth about $35,000. Benjamin Edwards Inc. lifted its holdings in Garmin by 73.
3% in the second quarter. Benjamin Edwards Inc. now owns 234 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 99 shares during the period.
Finally, Headlands Technologies LLC bought a new stake in Garmin during the 2nd quarter valued at approximately $46,000. Institutional investors own 73.41% of the company’s stock.
About Garmin ( Get Free Report ) Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories.
This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform. Further Reading Five stocks we like better than Garmin What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story TJX Stock: A Buying Opportunity Before the Holiday Rush What to Know About Investing in Penny Stocks Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge What is the S&P/TSX Index? Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter .
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