Omaha Aggregator (Cayman) L.P. sells 30,539,203 shares of GTES for $506.3M; divests 98.5% of pre-transaction holdings
Omaha Aggregator (Cayman) L.P., a 10% owner, executed 5 separate sales totaling 30,539,203 shares on 2024-08-21 at $16.58/share for an aggregate $506,339,985.74, reducing its holding from 30.99M shares to 451.5K shares—a -98.5% reduction in position size. This near-complete liquidation at a price $1.42 below the current $18.00 mark and near the 52-week high of $18.59 represents a substantial exit by a major shareholder. The insider's cross-ticker track record shows a 90d well-timed rate of 21.05%, but at GTES specifically, all 5 prior sells (May 2024) posted 90d returns of +9.1%, indicating the prior transactions were not well-timed on a 90-day basis. The stock has appreciated +5.0% in the last 30 days and +1.8% over 90 days since this sale, suggesting this exit occurred ahead of momentum but should be monitored against quarterly fundamentals (latest revenue $885.5M, net income $70.7M, P/E 18.75).