11,388 Shares in Garmin Ltd. (GRMN) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in Garmin Ltd. (NASDAQ:GRMN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,388 shares of the scientific and technical instruments company’s stock, valued at approximately $615,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its position in shares of Garmin by 8.8% in the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock worth $113,000 after acquiring an additional 180 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Garmin by 3.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 722,581 shares of the scientific and technical instruments company’s stock valued at $36,874,000 after purchasing an additional 24,777 shares in the last quarter. State of Wisconsin Investment Board grew its position in Garmin by 46.0% during the second quarter. State of Wisconsin Investment Board now owns 120,741 shares of the scientific and technical instruments company’s stock valued at $6,161,000 after purchasing an additional 38,020 shares in the last quarter. Legal & General Group Plc grew its position in Garmin by 6.7% during the second quarter. Legal & General Group Plc now owns 613,335 shares of the scientific and technical instruments company’s stock valued at $31,298,000 after purchasing an additional 38,688 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Garmin by 12.3% during the second quarter. Victory Capital Management Inc. now owns 10,997 shares of the scientific and technical instruments company’s stock valued at $561,000 after purchasing an additional 1,207 shares in the last quarter. 41.54% of the stock is currently owned by institutional investors.

Shares of Garmin Ltd. (GRMN) opened at $59.18 on Tuesday. The stock has a market cap of $11,100.00, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.83. Garmin Ltd. has a one year low of $47.03 and a one year high of $63.15.

Garmin (NASDAQ:GRMN) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.09. The firm had revenue of $743.00 million during the quarter, compared to analysts’ expectations of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. equities research analysts expect that Garmin Ltd. will post 2.9 EPS for the current fiscal year.

In other Garmin news, major shareholder Jonathan Burrell sold 254,000 shares of Garmin stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.45, for a total value of $15,862,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Biddlecombe sold 755 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $60.80, for a total transaction of $45,904.00. The disclosure for this sale can be found here. Insiders sold 1,063,870 shares of company stock valued at $64,367,378 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

A number of research analysts recently commented on GRMN shares. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a research report on Friday, December 15th. Zacks Investment Research raised shares of Garmin from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Garmin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. ValuEngine raised shares of Garmin from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Morgan Stanley boosted their price objective on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.57.

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About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Institutional Ownership by Quarter for Garmin (NASDAQ:GRMN)

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