Dark Forest Capital Management LP Has $3.06 Million Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Dark Forest Capital Management LP cut its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 44.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 340,320 shares of the company's stock after selling 273,858 shares during the quarter. Goodyear Tire & Rubber comprises 0.5% of Dark Forest Capital Management LP's holdings, making the stock its 25th biggest position. Dark Forest Capital Management LP owned approximately 0.12% of Goodyear Tire & Rubber worth $3,063,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GT. Allworth Financial LP lifted its holdings in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after purchasing an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Signaturefd LLC boosted its position in Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $54,000. Finally, Transce3nd LLC acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $61,000. 84.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Goodyear Tire & Rubber Trading Up 5.2 %

Shares of NASDAQ:GT opened at $10.45 on Wednesday. The company has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $9.21. The company has a market capitalization of $2.98 billion, a P/E ratio of 43.54 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 Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its 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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current 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.

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