70,952 Shares in Gentherm Inc $THRM Bought by Harber Asset Management LLC

Harber Asset Management LLC bought a new stake in shares of Gentherm Inc (NASDAQ:THRM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,952 shares of the auto parts company’s stock, valued at approximately $2,420,000. Harber Asset Management LLC owned approximately 0.23% of Gentherm at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in shares of Gentherm by 160.3% during the 4th quarter. Farther Finance Advisors LLC now owns 812 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Gentherm in the 2nd quarter worth approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in Gentherm in the 4th quarter worth approximately $35,000. Allworth Financial LP bought a new stake in Gentherm during the second quarter worth approximately $37,000. Finally, Palladiem LLC bought a new stake in Gentherm during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 97.13% of the company’s stock.

Gentherm Stock Performance

Shares of NASDAQ THRM opened at $40.47 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 46.52 and a beta of 1.35. Gentherm Inc has a one year low of $27.00 and a one year high of $48.35. The business has a fifty day simple moving average of $38.35 and a 200 day simple moving average of $33.62. The company has a current ratio of 2.06, a quick ratio of 1.49 and a debt-to-equity ratio of 0.38.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.19. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The firm had revenue of $404.94 million for the quarter, compared to analyst estimates of $382.90 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts expect that Gentherm Inc will post 2.92 EPS for the current year.

Gentherm declared that its Board of Directors has initiated a share buyback program on Thursday, July 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase up to 36.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on THRM shares. Roth Capital restated a “buy” rating and issued a $50.00 price objective on shares of Gentherm in a research note on Wednesday, July 29th. Robert W. Baird raised their target price on shares of Gentherm from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Gentherm from $41.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen downgraded Gentherm from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded Gentherm from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Insider Activity at Gentherm

In other news, SVP Wayne S. Kauffman III sold 4,700 shares of Gentherm stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total transaction of $203,087.00. Following the sale, the senior vice president directly owned 27,421 shares in the company, valued at approximately $1,184,861.41. The trade was a 14.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

About Gentherm

Gentherm Incorporated (NASDAQ: THRM) is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company’s core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm’s product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.

In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.