Should You Invest in Garrett Motion (GTX)?

Alluvial Capital Management, an investment advisory firm, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 4.2% in the fourth quarter and it declined by 14.9% for the full year. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Alluvial Capital Management highlighted stocks like Garrett Motion Inc. (NASDAQ:GTX) in the fourth quarter investor letter. Headquartered in Rolle, Switzerland, Garrett Motion Inc. (NASDAQ:GTX) designs and manufacturers turbocharger and electric-boosting technologies. On February 9, 2023, Garrett Motion Inc. (NASDAQ:GTX) stock closed at $8.27 per share. One-month return of Garrett Motion Inc. (NASDAQ:GTX) was 4.55% and its shares gained 15.34% of their value over the last 52 weeks. Garrett Motion Inc. (NASDAQ:GTX)  has a market capitalization of $536.048 million.

Alluvial Capital Management made the following comment about Garrett Motion Inc. (NASDAQ:GTX) in its Q4 2022 investor letter:

“On the topic of superchargers, our investment in Garrett Motion Inc. (NASDAQ:GTX) preferred shares is performing well. Garrett Motion shares have been rising as the semiconductor supply chain normalizes, unsnarling automotive production. Additionally, rumors of a possible sale began swirling in November. The company has not commented on the rumors, but an eventual sale has always been the most likely outcome for Garrett Motion. Should a sale come to pass, I think holders of Garrett’s convertible preferreds can expect at least $12.”

Turbo

Photo by Danny Sleeuwenhoek on Unsplash

Garrett Motion Inc. (NASDAQ:GTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Garrett Motion Inc. (NASDAQ:GTX) at the end of the third quarter, which was 23 in the previous quarter.

We discussed Garrett Motion Inc. (NASDAQ:GTX) in another article and shared the list of cheap value stocks to buy according to Seth Klarman. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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