GSA Capital Partners LLP Makes New $822,000 Investment in Gentex Corporation $GNTX

GSA Capital Partners LLP bought a new position in Gentex Corporation (NASDAQ:GNTX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 35,330 shares of the auto parts company’s stock, valued at approximately $822,000.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gentex in the third quarter worth about $38,000. Clearstead Advisors LLC raised its holdings in Gentex by 82.3% in the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after buying an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after buying an additional 1,985 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Gentex in the fourth quarter worth about $73,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Gentex in the third quarter worth about $117,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Up 1.9%

GNTX opened at $23.85 on Friday. The firm has a 50 day moving average price of $22.32 and a 200-day moving average price of $23.06. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 13.40 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, analysts expect that Gentex Corporation will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, April 8th. Gentex’s payout ratio is 26.97%.

Wall Street Analyst Weigh In

GNTX has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. B. Riley Financial reissued a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Robert W. Baird boosted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.83.

Insider Activity at Gentex

In related news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the sale, the director directly owned 81,443 shares in the company, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the sale, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by company insiders.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).