A Major Shareholder at Garmin Ltd (NASDAQ: GRMN) is Selling Shares

By Carrie Williams

On November 13, a Major Shareholder at Garmin Ltd (NASDAQ: GRMN), Jonathan Burrell, sold shares of GRMN for $7.67M.

Following Jonathan Burrell’s last GRMN Sell transaction on November 09, 2017, the stock climbed by 1.0%.

Based on Garmin Ltd’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $743 million and quarterly net profit of $147 million. In comparison, last year the company earned revenue of $722 million and had a net profit of $125 million. The company has a one-year high of $61.28 and a one-year low of $47.03. GRMN’s market cap is $11.39B and the company has a P/E ratio of 16.55.

12 different firms, including Merrill Lynch and Citigroup, currently also have a Sell rating on the stock. Based on 4 analyst ratings, the analyst consensus is Hold with an average price target of $57, reflecting a 6.6% upside.

The insider sentiment on Garmin Ltd has been negative according to 68 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Garmin Ltd. is a holding company which engages in the provision of navigation, communication, and information devices and applications that are enabled by global positioning system technology. It operates through the following business segments: Auto, Aviation, Marine, Outdoor, and Fitness.