Garmin Limited Switzerland (NASDAQ:GRMN) Reports Increase in Sellers; Strong Momentum for Short Players

January 20, 2018 - By Peter Erickson

 Garmin Limited Switzerland (NASDAQ:GRMN) Reports Increase in Sellers; Strong Momentum for Short Players

Investors sentiment increased to 1.37 in 2017 Q3. Its up 0.25, from 1.12 in 2017Q2. It improved, as 16 investors sold Garmin Ltd. shares while 107 reduced holdings. 51 funds opened positions while 118 raised stakes. 74.22 million shares or 4.08% more from 71.31 million shares in 2017Q2 were reported.
Lapides Asset Mngmt Lc invested 0.77% in Garmin Ltd. (NASDAQ:GRMN). Pacad Limited stated it has 0.03% of its portfolio in Garmin Ltd. (NASDAQ:GRMN). Benjamin F Edwards & holds 0.02% or 3,796 shares. Stevens Capital Management L P has 0.26% invested in Garmin Ltd. (NASDAQ:GRMN) for 127,270 shares. Cubist Systematic Strategies stated it has 0.03% of its portfolio in Garmin Ltd. (NASDAQ:GRMN). Fjarde Ap, Alabama-based fund reported 32,128 shares. California-based United Fincl Advisers Limited Liability Co has invested 0.01% in Garmin Ltd. (NASDAQ:GRMN). Fifth Third Bank reported 24 shares stake. Panagora Asset reported 0.07% in Garmin Ltd. (NASDAQ:GRMN). Live Your Vision Ltd Liability Corporation owns 107 shares or 0% of their US portfolio. 184,973 were accumulated by Rhumbline Advisers. Cambridge Advsrs Inc holds 0.08% or 3,860 shares. Pggm Invs reported 357,535 shares. Stephens Ar invested 0.03% in Garmin Ltd. (NASDAQ:GRMN). Dekabank Deutsche Girozentrale invested in 16,927 shares or 0.01% of the stock.

Since August 4, 2017, it had 0 insider buys, and 11 insider sales for $32.80 million activity. ETKIND ANDREW R also sold $109,869 worth of Garmin Ltd. (NASDAQ:GRMN) on Monday, September 25. 6,793 shares were sold by Huang Pao-Chang, worth $351,062 on Friday, August 4. 4,066 shares were sold by PEMBLE CLIFTON A, worth $223,630 on Friday, October 13. 755 shares were sold by Biddlecombe Sean, worth $45,904 on Wednesday, December 13. The insider Desbois Patrick sold 1,881 shares worth $103,455.

The stock of Garmin Limited Switzerland (NASDAQ:GRMN) registered an increase of 1.98% in short interest. GRMN’s total short interest was 15.42M shares in January as published by FINRA. Its up 1.98% from 15.12M shares, reported previously. With 903,400 shares average volume, it will take short sellers 17 days to cover their GRMN’s short positions. The short interest to Garmin Limited Switzerland’s float is 17.5%.

The stock increased 1.00% or $0.63 during the last trading session, reaching $63.87. About 1.22 million shares traded or 8.20% up from the average. Garmin Ltd. (NASDAQ:GRMN) has risen 28.63% since January 20, 2017 and is uptrending. It has outperformed by 11.93% the S&P500.

Garmin Ltd., together with its subsidiaries, designs, develops, makes, markets, and distributes a range of navigation, communication, and information devices worldwide. The company has market cap of $11.98 billion. It operates through five divisions: Auto, Aviation, Marine, Outdoor, and Fitness. It has a 17.41 P/E ratio. The Auto segment offers personal navigation devices; infotainment solutions; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

Garmin Ltd. (NASDAQ:GRMN) Ratings Coverage

Among 16 analysts covering Garmin Ltd. (NASDAQ:GRMN), 3 have Buy rating, 4 Sell and 9 Hold. Therefore 19% are positive. Garmin Ltd. had 30 analyst reports since July 30, 2015 according to SRatingsIntel. The company was downgraded on Friday, January 15 by Credit Suisse. The stock of Garmin Ltd. (NASDAQ:GRMN) has “Mkt Perform” rating given on Monday, August 22 by Raymond James. The rating was maintained by Oppenheimer with “Hold” on Wednesday, August 2. The stock of Garmin Ltd. (NASDAQ:GRMN) earned “Underperform” rating by Credit Suisse on Thursday, February 18. The firm has “Sell” rating given on Tuesday, December 12 by Credit Suisse. The firm has “Underperform” rating by Bank of America given on Thursday, August 4. The stock has “Buy” rating by Longbow on Wednesday, July 19. RBC Capital Markets maintained it with “Outperform” rating and $50 target in Thursday, July 30 report. The stock of Garmin Ltd. (NASDAQ:GRMN) earned “Neutral” rating by Dougherty & Company on Thursday, October 15. The stock of Garmin Ltd. (NASDAQ:GRMN) earned “Equal-Weight” rating by Morgan Stanley on Thursday, November 2.

More notable recent Garmin Ltd. (NASDAQ:GRMN) news were published by: Businesswire.com which released: “Garmin Ltd. schedules its fourth quarter 2017 earnings call” on January 17, 2018, also Businesswire.com with their article: “introduces Xeroâ„¢, a groundbreaking auto-ranging bow sight” published on January 10, 2018, Businesswire.com published: “Garmin® introduces the vívofit® 4 activity tracker” on December 26, 2017. More interesting news about Garmin Ltd. (NASDAQ:GRMN) were released by: Businesswire.com and their article: “Garmin® introduces the Forerunner 645 Music – a GPS running watch with …” published on January 08, 2018 as well as Businesswire.com‘s news article titled: “heads to CES with a new scalable infotainment platform” with publication date: January 04, 2018.

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