Insider Selling: Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells $944,349.40 in Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 104,348 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $9.05, for a total transaction of $944,349.40. Following the transaction, the insider directly owned 403,333 shares in the company, valued at approximately $3,650,163.65. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 12th, Equinox Partners Investment Ma sold 165,377 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.49, for a total transaction of $1,569,427.73.
• On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.30, for a total transaction of $2,311,143.00.
• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.08, for a total transaction of $1,032,441.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total transaction of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Stock Up 1.6%

Shares of NYSE GTE opened at $9.50 on Friday. Gran Tierra Energy Inc. has a 1 year low of $3.09 and a 1 year high of $11.52. The firm has a market cap of $336.11 million, a price-to-earnings ratio of 6.64 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The stock’s 50-day simple moving average is $7.21 and its 200-day simple moving average is $7.51.

Wall Street Analyst Weigh In

Separately, Roth Capital reaffirmed a “buy” rating on shares of Gran Tierra Energy in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.72.

Hedge Funds Weigh In On Gran Tierra Energy

Hedge funds have recently bought and sold shares of the company. Equinox Partners Investment Management LLC increased its holdings in Gran Tierra Energy by 25.2% in the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock valued at $27,057,000 after buying an additional 1,283,783 shares during the last quarter. LM Asset Management Inc. acquired a new stake in Gran Tierra Energy during the second quarter valued at approximately $27,283,875,000. Renaissance Technologies LLC lifted its holdings in Gran Tierra Energy by 2.1% during the 1st quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock worth $6,967,000 after buying an additional 16,300 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Gran Tierra Energy by 2,226.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after buying an additional 578,397 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of Gran Tierra Energy by 0.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock worth $2,372,000 after acquiring an additional 5,098 shares in the last quarter. 31.70% of the stock is currently owned by institutional investors and hedge funds.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.