Burrell Jonathan is Buying Garmin Ltd (NASDAQ:GRMN) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Garmin Ltd (NASDAQ:GRMN) reported that Burrell Jonathan has picked up 16,352,683 of common stock as of 2017-05-31.

The acquisition brings the aggregate amount owned by Burrell Jonathan to a total of 16,352,683 representing less than 15.0% stake in the company.

For those not familiar with the company, Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices. It offers a range of products designed for use in fitness and activity tracking. Garmin offers a range of products designed for use in fitness and activity tracking. Its aviation business segment is a provider of solutions to aircraft manufacturers, existing aircraft owners and operators, as well as military and government customers and serves a range of aircraft, including transport aircraft, business aviation, general aviation, experimental/light sport, helicopters, optionally piloted vehicles and unmanned aerial vehicles.

A glance at Garmin Ltd (NASDAQ:GRMN)’s key stats reveals a current market capitalization of 9.73 Billion based on 188.08 Million shares outstanding and a price at last close of $52.04 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-08-18, Hartnett picked up 1,000 at a purchase price of $55.94. This brings their total holding to 5,412 as of the date of the filing.

On the sell side, the most recent transaction saw Burrell unload 100,000 shares at a sale price of $51.99. This brings their total holding to 9,823,500.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Garmin Ltd (NASDAQ:GRMN) as things move forward to see if its progress aligns with these transactions.

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