Here’s Why Altron Capital Still Holds its Garrett Motion (GTX) Stake

Altron Capital Management, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The S&P500 had a return of 11.0% in the fourth quarter, bringing the total return for 2021 to 28.7%. The firm’s portfolios have underperformed this quarter, but are taking this opportunity to buy more into some of its current positions. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Altron Capital Management, in its Q4 2021 investor letter, mentioned Garrett Motion Inc. (NYSE:GTX) and discussed its stance on the firm. Founded in 1954, Garrett Motion Inc. (NYSE:GTX) is a Switzerland-based automobile technology provider company with a $451.6 million market capitalization and is currently spearheaded by its CEO, Olivier Rabiller. Garrett Motion Inc. (NYSE:GTX) delivered a -12.83% return since the beginning of the year, while its 12-month returns are up by 38.61%. The stock closed at $7.00 per share on April 08, 2022.

Here is what Altron Capital Management has to say about Garrett Motion Inc. (NYSE:GTX) in its Q4 2021 investor letter:

“GTX shares have been relatively flat despite trading at a single-digit earnings multiple. We can’t point to any particular reason as to why, but we suspect lack of analyst coverage and the stigma of being a post-bankruptcy company are likely contributing factors. It may take some time for the market to fully appreciate the business and its improved balance sheet, but we are content with holding our shares until then.”

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Our calculations show that Garrett Motion Inc. (NYSE:GTX) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Garrett Motion Inc. (NYSE:GTX) was in 19 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 21 funds in the previous quarter. Garrett Motion Inc. (NYSE:GTX) delivered a -9.33% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Garrett Motion Inc. (NYSE:GTX) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.