Whitebox Advisors LLC Acquires 130,000 Shares of The Goodyear Tire & Rubber Company $GT

Whitebox Advisors LLC lifted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 17.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 871,089 shares of the company’s stock after buying an additional 130,000 shares during the period. Whitebox Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $5,775,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Goodyear Tire & Rubber by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after purchasing an additional 7,453 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Goodyear Tire & Rubber during the 1st quarter worth approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Goodyear Tire & Rubber by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock worth $6,074,000 after purchasing an additional 15,064 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Goodyear Tire & Rubber by 23.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,060 shares of the company’s stock valued at $156,000 after buying an additional 2,855 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $7.21 on Monday. The company’s 50-day moving average is $6.36 and its 200-day moving average is $7.34. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The firm has a market capitalization of $2.07 billion, a PE ratio of -1.00 and a beta of 1.12. The Goodyear Tire & Rubber Company has a fifty-two week low of $5.43 and a fifty-two week high of $11.34.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm posted ($0.04) EPS. Goodyear Tire & Rubber’s revenue was down 8.7% compared to the same quarter last year. Equities analysts forecast that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup decreased their price objective on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.54.

Check Out Our Latest Analysis on GT

Goodyear Tire & Rubber Company Profile

(Free Report)

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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