Quantbot Technologies LP Has $443,000 Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Quantbot Technologies LP lessened its stake in Garmin Ltd. (NYSE:GRMNFree Report) by 72.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,215 shares of the scientific and technical instruments company’s stock after selling 10,925 shares during the period. Quantbot Technologies LP’s holdings in Garmin were worth $443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Metis Global Partners LLC grew its holdings in Garmin by 9.6% during the third quarter. Metis Global Partners LLC now owns 8,817 shares of the scientific and technical instruments company’s stock valued at $928,000 after purchasing an additional 772 shares during the period. Jump Financial LLC grew its holdings in Garmin by 397.7% during the third quarter. Jump Financial LLC now owns 12,100 shares of the scientific and technical instruments company’s stock valued at $1,273,000 after purchasing an additional 9,669 shares during the period. abrdn plc grew its holdings in Garmin by 19.3% during the third quarter. abrdn plc now owns 53,012 shares of the scientific and technical instruments company’s stock valued at $5,577,000 after purchasing an additional 8,563 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Garmin by 9.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 151,568 shares of the scientific and technical instruments company’s stock worth $15,945,000 after acquiring an additional 12,760 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its position in shares of Garmin by 11.7% during the third quarter. Argonautica Private Wealth Management Inc. now owns 2,748 shares of the scientific and technical instruments company’s stock worth $289,000 after acquiring an additional 288 shares in the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.

Garmin Trading Down 0.1 %

GRMN opened at $121.73 on Thursday. The firm has a market cap of $23.29 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.91 and a beta of 0.97. Garmin Ltd. has a 12 month low of $93.22 and a 12 month high of $129.32. The stock has a 50-day moving average of $124.73 and a 200 day moving average of $113.68.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now owns 115,629 shares in the company, valued at $13,875,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Clifton A. Pemble sold 5,000 shares of Garmin stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $120.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief executive officer now owns 115,629 shares of the company’s stock, valued at $13,875,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clifton A. Pemble sold 1,095 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $125.89, for a total value of $137,849.55. Following the transaction, the chief executive officer now directly owns 130,365 shares in the company, valued at $16,411,649.85. The disclosure for this sale can be found here. Company insiders own 19.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GRMN shares. JPMorgan Chase & Co. downgraded Garmin from an “overweight” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research report on Monday, January 8th. Morgan Stanley dropped their price target on Garmin from $103.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Barclays raised their target price on Garmin from $113.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, StockNews.com raised Garmin from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Garmin has a consensus rating of “Hold” and a consensus price target of $127.80.

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About Garmin

(Free Report)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; fitness and cycling accessories.

See Also

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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