Man Group plc grew its stake in shares of Gentex Co. (NASDAQ:GNTX) by 142.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 534,330 shares of the auto parts company’s stock after acquiring an additional 313,828 shares during the quarter. Man Group plc’s holdings in Gentex were worth $14,713,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Gentex by 58.6% in the 2nd quarter. Wells Fargo & Company MN now owns 3,511,934 shares of the auto parts company’s stock worth $86,428,000 after purchasing an additional 1,297,207 shares during the period. Boston Partners lifted its holdings in shares of Gentex by 22.9% in the second quarter. Boston Partners now owns 4,572,437 shares of the auto parts company’s stock valued at $112,516,000 after purchasing an additional 853,372 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Gentex by 2,390.7% during the second quarter. Nuveen Asset Management LLC now owns 610,808 shares of the auto parts company’s stock valued at $15,033,000 after buying an additional 586,284 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gentex by 132.3% during the second quarter. Renaissance Technologies LLC now owns 1,023,596 shares of the auto parts company’s stock valued at $25,191,000 after buying an additional 582,996 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Gentex during the third quarter valued at $10,338,000. 80.57% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on GNTX shares. BidaskClub downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Guggenheim set a $31.00 target price on Gentex and gave the company a “buy” rating in a research note on Monday, October 21st. Zacks Investment Research downgraded Gentex from a “hold” rating to a “sell” rating and set a $29.00 target price on the stock. in a report on Thursday, October 17th. B. Riley increased their price target on shares of Gentex from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.28.
Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, October 18th. The auto parts company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Gentex had a return on equity of 22.87% and a net margin of 23.09%. The firm had revenue of $477.76 million for the quarter, compared to the consensus estimate of $475.59 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that Gentex Co. will post 1.64 earnings per share for the current year.
In related news, SVP Roger Perry Campbell sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $88.92, for a total value of $133,380.00. Also, Director John A. Mulder sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $28.08, for a total transaction of $140,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,914 shares of company stock valued at $1,284,113 in the last three months. 0.37% of the stock is owned by insiders.
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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