AM Squared Ltd Acquires Shares of 10,349 The Goodyear Tire & Rubber Company (NASDAQ:GT)

AM Squared Ltd purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 10,349 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Covestor Ltd increased its holdings in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock worth $70,000 after purchasing an additional 1,284 shares during the period. Texas Permanent School Fund Corp increased its holdings in Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after purchasing an additional 1,475 shares during the period. Arizona State Retirement System increased its holdings in Goodyear Tire & Rubber by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after purchasing an additional 1,621 shares during the period. Innealta Capital LLC increased its holdings in Goodyear Tire & Rubber by 12.2% during the 1st quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock worth $210,000 after purchasing an additional 1,654 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Goodyear Tire & Rubber by 5.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $495,000 after purchasing an additional 1,925 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $9.27 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The stock’s fifty day simple moving average is $8.50 and its two-hundred day simple moving average is $10.07. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Goodyear Tire & Rubber

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.