Form 4: Centerbridge Partners Reduce Stake in Garrett Motion Inc. (GTX)
SEC Form 4 Filing
Centerbridge Special Credit Partners and related entities sold shares of Garrett Motion Inc. (GTX) on February 27, 2025, reducing their beneficial ownership.
Summary
- On February 27, 2025, Centerbridge Special Credit Partners III-Flex, L.P. sold 245,748 shares of Garrett Motion Inc. (GTX) common stock at a price of $9.9572 per share.
- Following this transaction, Centerbridge Special Credit Partners III-Flex, L.P. indirectly beneficially owns 24,068,636 shares.
- On the same date, Centerbridge Credit Partners Master, L.P. sold 103,603 shares of GTX at the same price.
- After this transaction, Centerbridge Credit Partners Master, L.P. indirectly beneficially owns 10,098,173 shares.
- The reporting persons are jointly filing this Form 4, and disclaim beneficial ownership of the reported securities except to the extent of any proportionate pecuniary interest therein.
Sentiment
Score: 4
Explanation: The sentiment is neutral to slightly negative as a large shareholder is reducing their position, which could create selling pressure. However, the document is simply reporting a transaction.
Negatives
- Centerbridge Partners reduced their stake in Garrett Motion Inc.
Risks
- Continued selling pressure from major shareholders like Centerbridge could negatively impact GTX's stock price.
Industry Context
Share sales by large holders are common and can reflect portfolio rebalancing or changes in investment strategy. It's important to monitor the overall trend of institutional ownership in GTX.
Stakeholder Impact
- Shareholders may react to the news of Centerbridge reducing its stake.
- The market may interpret this sale as a change in sentiment towards GTX.
Key Dates
| Date | Description |
|---|---|
| 02/27/2025 | Date of the reported transactions: sale of common stock by Centerbridge Special Credit Partners III-Flex, L.P. and Centerbridge Credit Partners Master, L.P. |
| 03/03/2025 | Date of signatures for the Form 4 filings. |
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