Readystate Asset Management LP Acquires 18,670 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Readystate Asset Management LP increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,270 shares of the company’s stock after purchasing an additional 18,670 shares during the period. Readystate Asset Management LP owned 0.20% of Goodyear Tire & Rubber worth $7,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Ancora Advisors LLC grew its stake in Goodyear Tire & Rubber by 71.4% in the first quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,000 shares during the period. First Manhattan Co. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $31,000. Jones Financial Companies Lllp purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $33,000. Headinvest LLC purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter worth $34,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Goodyear Tire & Rubber by 27.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock worth $44,000 after acquiring an additional 862 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.16.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT traded down $0.21 during trading on Wednesday, hitting $11.97. 2,099,294 shares of the company’s stock were exchanged, compared to its average volume of 3,743,484. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 52-week low of $10.12 and a 52-week high of $16.50. The business’s 50-day simple moving average is $12.62 and its 200 day simple moving average is $13.18. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -4.97 and a beta of 1.85.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.12 EPS for the current year.

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.