Min H. Kao Sells 125,000 Shares of Garmin Ltd. (GRMN) Stock

Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $62.82, for a total value of $7,852,500.00. Following the completion of the sale, the chairman now owns 1,824,429 shares of the company’s stock, valued at $114,610,629.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:GRMN traded down $0.47 on Friday, reaching $66.11. 970,436 shares of the company traded hands, compared to its average volume of 1,374,480. Garmin Ltd. has a fifty-two week low of $57.01 and a fifty-two week high of $70.77. The company has a market capitalization of $13.02 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98.

Garmin (NASDAQ:GRMN) last announced its quarterly earnings data on Wednesday, October 31st. The scientific and technical instruments company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.24. The company had revenue of $810.01 million during the quarter, compared to the consensus estimate of $784.06 million. Garmin had a return on equity of 16.95% and a net margin of 19.45%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, research analysts expect that Garmin Ltd. will post 3.47 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRMN. GSA Capital Partners LLP lifted its holdings in shares of Garmin by 45.0% in the first quarter. GSA Capital Partners LLP now owns 6,060 shares of the scientific and technical instruments company’s stock valued at $357,000 after purchasing an additional 1,881 shares in the last quarter. Profund Advisors LLC purchased a new stake in shares of Garmin in the first quarter valued at $218,000. Commonwealth Equity Services LLC lifted its holdings in shares of Garmin by 16.6% in the first quarter. Commonwealth Equity Services LLC now owns 18,172 shares of the scientific and technical instruments company’s stock valued at $1,070,000 after purchasing an additional 2,589 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Garmin in the first quarter valued at $387,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Garmin by 3.5% in the first quarter. The Manufacturers Life Insurance Company now owns 115,140 shares of the scientific and technical instruments company’s stock worth $6,785,000 after acquiring an additional 3,849 shares during the last quarter. Institutional investors own 38.91% of the company’s stock.

A number of equities research analysts have weighed in on the company. BidaskClub upgraded Garmin from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Morgan Stanley set a $77.00 target price on Garmin and gave the stock an “equal weight” rating in a research report on Friday, September 21st. Finally, Longbow Research set a $75.00 target price on Garmin and gave the stock a “buy” rating in a research report on Thursday, September 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.40.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.baseballdailydigest.com/2018/11/10/insider-selling-garmin-ltd-grmn-chairman-sells-7852500-00-in-stock.html.

Garmin Company Profile

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.

Featured Story: Understanding Market Liquidity

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

Receive News & Ratings for Garmin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garmin and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply