Min H. Kao Sells 250,000 Shares of Garmin Ltd. (GRMN) Stock
Garmin Ltd. (NASDAQ:GRMN) insider Min H. Kao sold 250,000 shares of Garmin stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $62.89, for a total value of $15,722,500.00. Following the transaction, the insider now directly owns 1,799,429 shares in the company, valued at approximately $113,166,089.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Garmin stock opened at $61.97 on Friday. The firm has a market cap of $12.49 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.60 and a beta of 0.99. Garmin Ltd. has a 12 month low of $55.22 and a 12 month high of $70.77.
Garmin (NASDAQ:GRMN) last issued its quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The business had revenue of $894.50 million for the quarter, compared to analyst estimates of $844.76 million. Garmin had a return on equity of 15.98% and a net margin of 18.72%. Garmin’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, analysts anticipate that Garmin Ltd. will post 3.3 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its stake in shares of Garmin by 103.9% in the third quarter. Aperio Group LLC now owns 176,219 shares of the scientific and technical instruments company’s stock valued at $12,344,000 after buying an additional 89,789 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Garmin by 1.2% in the third quarter. Nisa Investment Advisors LLC now owns 73,130 shares of the scientific and technical instruments company’s stock valued at $5,123,000 after buying an additional 860 shares during the period. First Hawaiian Bank bought a new stake in shares of Garmin in the third quarter valued at $118,000. Scout Investments Inc. raised its stake in shares of Garmin by 92.0% in the third quarter. Scout Investments Inc. now owns 282,806 shares of the scientific and technical instruments company’s stock valued at $19,811,000 after buying an additional 135,473 shares during the period. Finally, Capital Investment Advisors LLC bought a new stake in shares of Garmin in the third quarter valued at $209,000. Institutional investors and hedge funds own 38.65% of the company’s stock.
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.
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