CYRUS CAPITAL PARTNERS, L.P. Reduces Stake in Garrett Motion Inc
On August 11, 2023, CYRUS CAPITAL PARTNERS, L.P., a New York-based investment firm, reduced its stake in Garrett Motion Inc (NASDAQ:GTX), a leading provider of engineered turbocharger and electric-boosting technologies. The firm sold 3,486,267 shares at a price of $7.7 per share, reducing its total holdings to 31,402,333 shares. This transaction had a -5.51% impact on the firm's portfolio and reduced its position in GTX to 52.55%. Despite the reduction, CYRUS CAPITAL PARTNERS, L.P. still holds a significant 12.13% stake in Garrett Motion Inc.
Profile of CYRUS CAPITAL PARTNERS, L.P.
CYRUS CAPITAL PARTNERS, L.P., located at 65 EAST 55 STREET, NEW YORK, NY 10022, is an investment firm with a diversified portfolio. The firm currently holds seven stocks, with a total equity of $487 million. Its top holdings include Spirit Airlines Inc (NYSE:SAVE), Overseas Shipholding Group Inc (NYSE:OSG), International Seaways Inc (NYSE:INSW), Denbury Inc (NYSE:DEN), and Garrett Motion Inc (NASDAQ:GTX). The firm's investment philosophy is primarily focused on the Consumer Cyclical and Energy sectors.
Overview of Garrett Motion Inc
Garrett Motion Inc, a Switzerland-based company, designs, manufactures, and sells engineered turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers (OEMs) and the vehicle independent aftermarket. The company also offers automotive software solutions. Since its IPO on May 3, 2021, the company's stock has gained 45.27%, with a year-to-date increase of 1.14%. The company's current market capitalization stands at $2.07 billion.
Financial Health and Performance of Garrett Motion Inc
Garrett Motion Inc's financial health and performance are evaluated using various metrics. The company's Financial Strength is ranked 4/10, while its Profitability Rank is 7/10. The company's Growth Rank is 5/10, and its GF Value Rank is 4/10. The company's Momentum Rank is 0/10, indicating a lack of momentum in the stock's price movement. The company's Piotroski F-Score is 6, and its Altman Z score is 1.52, indicating a low probability of financial distress.
Garrett Motion Inc's Position in the Vehicles & Parts Industry
Garrett Motion Inc operates in the Vehicles & Parts industry. The company's interest coverage is 5.07, ranking 592nd in the industry. The company's Return on Equity (ROE) is not applicable, while its Return on Assets (ROA) is 13.78%, ranking 73rd in the industry.
Growth and Momentum Analysis of Garrett Motion Inc
Garrett Motion Inc's growth and momentum are evaluated using various metrics. The company's gross margin growth is -5.00%, and its operating margin growth is -5.10%. The company's 3-year revenue growth is 9.00%, and its 3-year EBITDA growth is 16.70%. However, the company's 3-year earnings growth is -43.30%.
Other Gurus' Involvement in Garrett Motion Inc
Other gurus who also hold shares in Garrett Motion Inc include Mario Gabelli (Trades, Portfolio), Prem Watsa (Trades, Portfolio), and Jefferies Group (Trades, Portfolio). The Baupost Group is the largest guru holder of the stock.
Conclusion
In conclusion, CYRUS CAPITAL PARTNERS, L.P.'s recent transaction in Garrett Motion Inc is a significant move that reduces its stake in the company but still maintains a substantial position. The transaction's impact on the firm's portfolio and the stock's future performance will be closely watched by investors. As of August 16, 2023, all data and rankings are accurate and based on the provided relative data.
This article first appeared on GuruFocus.
