Lion Street Advisors LLC Sells 83 Shares of Garmin Ltd. $GRMN

Lion Street Advisors LLC lowered its holdings in Garmin Ltd. (NYSE:GRMN) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,574 shares of the scientific and technical instruments company’s stock after selling 83 shares during the period. Lion Street Advisors LLC’s holdings in Garmin were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GRMN. Groupe la Francaise bought a new position in Garmin in the first quarter valued at $33,000. TFC Financial Management Inc. grew its position in Garmin by 1,633.3% in the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 147 shares in the last quarter. Wayfinding Financial LLC bought a new position in Garmin in the first quarter valued at $34,000. Zions Bancorporation National Association UT bought a new position in Garmin in the first quarter valued at $38,000. Finally, Garde Capital Inc. bought a new position in shares of Garmin in the 1st quarter valued at about $40,000. Institutional investors own 81.60% of the company’s stock.

Insiders Place Their Bets

In other Garmin news, insider Cheng-Wei Wang sold 10,202 shares of Garmin stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the sale, the insider owned 36,092 shares in the company, valued at $8,390,668.16. The trade was a 22.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.38% of the stock is owned by company insiders.

Garmin Stock Performance

Shares of GRMN stock opened at $248.18 on Monday. The company has a market capitalization of $47.77 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.72 and a beta of 0.98. The company has a 50-day simple moving average of $238.90 and a 200 day simple moving average of $216.49. Garmin Ltd. has a 52 week low of $160.95 and a 52 week high of $261.69.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The business’s revenue was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Sell-side analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays reissued an “underweight” rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Tigress Financial lifted their price objective on shares of Garmin from $285.00 to $305.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Garmin in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Garmin from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on shares of Garmin from $186.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Garmin has an average rating of “Hold” and a consensus price target of $228.75.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.