Bryce Point Capital LLC Invests $523,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Bryce Point Capital LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 58,072 shares of the company's stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after acquiring an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after acquiring an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $79,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a report on Tuesday, February 18th. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and an average price target of $13.78.

Goodyear Tire & Rubber Stock Up 14.9 %

Shares of GT traded up $1.26 during trading hours on Wednesday, hitting $9.74. 13,412,975 shares of the company were exchanged, compared to its average volume of 4,943,915. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.26. The company has a market cap of $2.78 billion, a PE ratio of 40.59 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm's 50 day moving average is $9.20 and its 200-day moving average is $9.13.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.