Insider Selling: Garmin Ltd. (GRMN) Insider Sells 15,637 Shares of Stock
Garmin Ltd. (NASDAQ:GRMN) insider Clifton A. Pemble sold 15,637 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $70.00, for a total value of $1,094,590.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
GRMN opened at $69.57 on Thursday. Garmin Ltd. has a one year low of $53.45 and a one year high of $70.75. The stock has a market capitalization of $13.80 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 2.88 and a beta of 1.03.
Garmin (NASDAQ:GRMN) last released its quarterly earnings data on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.12. Garmin had a return on equity of 15.98% and a net margin of 18.72%. The business had revenue of $894.50 million for the quarter, compared to the consensus estimate of $844.76 million. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts forecast that Garmin Ltd. will post 3.3 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd boosted its position in shares of Garmin by 105.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,736 shares of the scientific and technical instruments company’s stock valued at $102,000 after purchasing an additional 891 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Garmin in the 2nd quarter valued at about $108,000. Sun Life Financial INC boosted its position in shares of Garmin by 1,601.7% in the 2nd quarter. Sun Life Financial INC now owns 1,974 shares of the scientific and technical instruments company’s stock valued at $120,000 after purchasing an additional 1,858 shares during the period. Fort L.P. acquired a new stake in shares of Garmin in the 2nd quarter valued at about $121,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Garmin by 3,291.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,103 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 2,041 shares during the period. Institutional investors and hedge funds own 39.81% of the company’s stock.
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.
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