AM Squared Ltd Purchases New Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT)

AM Squared Ltd purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,349 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds have also added to or reduced their stakes in GT. Family Firm Inc. bought a new stake in Goodyear Tire & Rubber in the second quarter worth $26,000. Mather Group LLC. boosted its holdings in Goodyear Tire & Rubber by 4,526.3% in the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after acquiring an additional 2,580 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after acquiring an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in Goodyear Tire & Rubber in the second quarter worth $40,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Goodyear Tire & Rubber in the second quarter worth $57,000. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Down 0.6 %

NASDAQ:GT opened at $9.27 on Friday. The stock has a 50-day simple moving average of $8.50 and a two-hundred day simple moving average of $10.07. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GT shares. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.