Monaco Asset Management SAM Boosts Holdings in The Goodyear Tire & Rubber Company $GT

Monaco Asset Management SAM raised its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 140.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,000 shares of the company’s stock after acquiring an additional 140,000 shares during the quarter. Monaco Asset Management SAM owned approximately 0.08% of Goodyear Tire & Rubber worth $2,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GT. Invenomic Capital Management LP purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter worth about $13,753,000. CenterBook Partners LP grew its holdings in shares of Goodyear Tire & Rubber by 166.1% during the third quarter. CenterBook Partners LP now owns 2,040,792 shares of the company’s stock worth $15,265,000 after buying an additional 1,273,883 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter worth about $1,318,000. Bastion Asset Management Inc. grew its holdings in shares of Goodyear Tire & Rubber by 72.9% during the fourth quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock worth $8,076,000 after buying an additional 406,410 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Goodyear Tire & Rubber by 76.3% during the third quarter. Allianz Asset Management GmbH now owns 1,135,023 shares of the company’s stock worth $8,490,000 after buying an additional 491,210 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Citigroup lowered their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, TD Cowen lowered their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $8.54.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $6.10 on Monday. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $12.03. The firm has a 50 day moving average price of $6.52 and a 200 day moving average price of $7.91. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -0.84 and a beta of 1.12. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the firm earned ($0.04) earnings per share. Goodyear Tire & Rubber’s revenue was down 8.7% compared to the same quarter last year. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post -0.32 earnings per share for the current year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.