HGK Asset Management Inc. Increases Stake in Gentherm Inc (THRM)
HGK Asset Management Inc. grew its position in Gentherm Inc (NASDAQ:THRM) by 17.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,254 shares of the auto parts company’s stock after acquiring an additional 2,245 shares during the period. HGK Asset Management Inc.’s holdings in Gentherm were worth $599,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Gentherm during the 1st quarter worth $112,000. Sei Investments Co. raised its position in Gentherm by 59.0% during the 2nd quarter. Sei Investments Co. now owns 4,915 shares of the auto parts company’s stock worth $193,000 after purchasing an additional 1,824 shares during the last quarter. First Mercantile Trust Co. raised its position in Gentherm by 634.3% during the 2nd quarter. First Mercantile Trust Co. now owns 5,140 shares of the auto parts company’s stock worth $202,000 after purchasing an additional 4,440 shares during the last quarter. Amalgamated Bank bought a new position in Gentherm during the 2nd quarter worth $212,000. Finally, Crossmark Global Holdings Inc. bought a new position in Gentherm during the 2nd quarter worth $216,000. Institutional investors own 98.73% of the company’s stock.
Shares of Gentherm stock opened at $49.20 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.60 and a quick ratio of 1.91. Gentherm Inc has a 1-year low of $29.75 and a 1-year high of $49.80. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 0.82 and a beta of 1.73.
A number of brokerages have weighed in on THRM. Longbow Research reiterated a “sell” rating and set a $26.00 price target on shares of Gentherm in a report on Thursday, June 14th. Zacks Investment Research downgraded Gentherm from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Barrington Research set a $43.00 price target on Gentherm and gave the stock a “buy” rating in a report on Thursday, April 26th. BidaskClub upgraded Gentherm from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Finally, Buckingham Research decreased their price target on Gentherm from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $43.00.
In other news, VP Kenneth John Phillips sold 17,619 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $39.09, for a total value of $688,726.71. Following the completion of the sale, the vice president now directly owns 31,198 shares in the company, valued at approximately $1,219,529.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Barry G. Steele sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $40.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 88,234 shares of the company’s stock, valued at $3,529,360. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,619 shares of company stock valued at $4,839,627. 3.10% of the stock is currently owned by company insiders.
Gentherm Incorporated designs, develops, and manufactures thermal management technologies in North America, Europe, and Asia. The company operates through two segments, Automotive and Industrial. The Automotive segment offers automotive seat comfort systems, including seat heaters, variable temperature climate control seats that are designed to provide individualized thermal comfort to automobile passengers; and integrated electronic components, such as blowers and electronic control units.
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