GSA Capital Partners LLP Sells 3,489 Shares of Garmin Ltd. (NYSE:GRMN)

GSA Capital Partners LLP lowered its stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 30.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,823 shares of the scientific and technical instruments company's stock after selling 3,489 shares during the quarter. GSA Capital Partners LLP's holdings in Garmin were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GRMN. Clearstead Trust LLC purchased a new stake in Garmin in the first quarter worth about $30,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Garmin in the second quarter worth about $31,000. Family Firm Inc. purchased a new stake in Garmin in the second quarter worth about $35,000. Benjamin Edwards Inc. grew 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 purchasing an additional 99 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Garmin during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 73.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut shares of Garmin from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $155.00 to $138.00 in a report on Monday, October 7th. Barclays increased their price target on shares of Garmin from $133.00 to $158.00 and gave the company an "underweight" rating in a report on Friday, November 1st. Tigress Financial increased their price target on shares of Garmin from $210.00 to $215.00 and gave the company a "strong-buy" rating in a report on Thursday, September 19th. Finally, StockNews.com downgraded shares of Garmin from a "buy" rating to a "hold" rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Garmin has a consensus rating of "Hold" and a consensus price target of $162.67.

Garmin Trading Down 0.2 %

GRMN traded down $0.35 during trading on Thursday, hitting $212.63. 212,590 shares of the company traded hands, compared to its average volume of 857,101. The company has a market cap of $40.83 billion, a PE ratio of 27.23, a P/E/G ratio of 3.25 and a beta of 0.97. The stock's 50-day simple moving average is $178.79 and its two-hundred day simple moving average is $171.60. Garmin Ltd. has a 1 year low of $118.51 and a 1 year high of $215.55.

Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.53. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.44 billion. Garmin had a net margin of 25.48% and a return on equity of 17.99%. Garmin's quarterly revenue was up 24.1% on a year-over-year basis. During the same period last year, the company posted $1.41 earnings per share. Equities analysts expect that Garmin Ltd. will post 6.88 EPS for the current year.

Insider Activity at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $210.10, for a total value of $123,328.70. Following the completion of the transaction, the director now directly owns 6,147 shares of the company's stock, valued at $1,291,484.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction on 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 directly owns 88,622 shares of the company's stock, valued at $16,081,348.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,479 shares of company stock valued at $2,419,502. Corporate insiders own 19.54% of the company's stock.

Garmin Company Profile

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.