Whitebox Advisors LLC Has $6.13 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Whitebox Advisors LLC increased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 69.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,028 shares of the company's stock after purchasing an additional 284,168 shares during the quarter. Whitebox Advisors LLC owned 0.24% of Goodyear Tire & Rubber worth $6,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GT. Family Firm Inc. acquired a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at $26,000. Mather Group LLC. boosted its stake in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company's stock valued at $30,000 after buying an additional 2,580 shares during the period. Sound Income Strategies LLC grew its holdings in shares of Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock valued at $35,000 after acquiring an additional 3,778 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Goodyear Tire & Rubber in the second quarter worth $57,000. Finally, Private Trust Co. NA raised its holdings in shares of Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company's stock worth $62,000 after acquiring an additional 3,700 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT traded up $0.17 during mid-day trading on Friday, hitting $10.16. 5,470,841 shares of the stock were exchanged, compared to its average volume of 4,460,172. The company has a market cap of $2.89 billion, a P/E ratio of -9.77 and a beta of 1.77. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $15.24. The stock's fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $9.82.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period last year, the company posted $0.36 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GT has been the subject of several analyst reports. StockNews.com lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Wolfe Research lowered shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.