Garmin Ltd. (NYSE:GRMN) Shares Sold by Intrepid Capital Management Inc.

Intrepid Capital Management Inc. cut its holdings in Garmin Ltd. (NYSE:GRMN) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,949 shares of the scientific and technical instruments company’s stock after selling 1,436 shares during the period. Garmin comprises about 1.7% of Intrepid Capital Management Inc.’s holdings, making the stock its 13th largest position. Intrepid Capital Management Inc.’s holdings in Garmin were worth $2,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Life Insurance Co. raised its stake in Garmin by 0.9% in the third quarter. Sumitomo Life Insurance Co. now owns 6,686 shares of the scientific and technical instruments company’s stock valued at $1,177,000 after buying an additional 61 shares in the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Garmin by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 14,056 shares of the scientific and technical instruments company’s stock worth $2,290,000 after purchasing an additional 70 shares in the last quarter. UMB Bank n.a. increased its position in shares of Garmin by 2.6% during the second quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after purchasing an additional 74 shares in the last quarter. Buckingham Capital Management Inc. increased its position in shares of Garmin by 0.7% during the third quarter. Buckingham Capital Management Inc. now owns 11,715 shares of the scientific and technical instruments company’s stock worth $2,062,000 after purchasing an additional 80 shares in the last quarter. Finally, Brighton Jones LLC increased its position in shares of Garmin by 5.8% during the second quarter. Brighton Jones LLC now owns 1,522 shares of the scientific and technical instruments company’s stock worth $248,000 after purchasing an additional 83 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Garmin

In other Garmin news, Director Sean Biddlecombe sold 587 shares of Garmin stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $210.10, for a total value of $123,328.70. Following the sale, the director now owns 6,147 shares of the company’s stock, valued at approximately $1,291,484.70. The trade was a 8.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GRMN has been the topic of a number of research analyst reports. StockNews.com cut Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Tigress Financial lifted their target price on Garmin from $210.00 to $215.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Morgan Stanley cut Garmin from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $155.00 to $138.00 in a research report on Monday, October 7th. Finally, Barclays raised their price target on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Garmin currently has a consensus rating of “Hold” and an average target price of $162.67.

Garmin Trading Down 0.2 %

Shares of NYSE GRMN traded down $0.45 during midday trading on Tuesday, reaching $213.01. 12,449 shares of the company were exchanged, compared to its average volume of 856,779. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $216.44. The stock has a fifty day simple moving average of $187.67 and a 200 day simple moving average of $175.83. The stock has a market cap of $40.90 billion, a P/E ratio of 27.07, a PEG ratio of 1.40 and a beta of 0.97.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, analysts forecast that Garmin Ltd. will post 7.01 earnings per share for the current year.

Garmin Profile

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.