Harvey Partners LLC Purchases 431,072 Shares of Gentherm Inc $THRM

Harvey Partners LLC lifted its position in shares of Gentherm Inc (NASDAQ:THRM) by 72.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,024,500 shares of the auto parts company’s stock after acquiring an additional 431,072 shares during the period. Gentherm makes up approximately 3.1% of Harvey Partners LLC’s portfolio, making the stock its 11th largest position. Harvey Partners LLC owned approximately 3.36% of Gentherm worth $34,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in THRM. Allworth Financial LP boosted its holdings in shares of Gentherm by 1,609.1% during the 2nd quarter. Allworth Financial LP now owns 940 shares of the auto parts company’s stock valued at $27,000 after acquiring an additional 885 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Gentherm by 168.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the auto parts company’s stock valued at $54,000 after buying an additional 1,201 shares during the period. Nisa Investment Advisors LLC raised its position in Gentherm by 20.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,641 shares of the auto parts company’s stock worth $56,000 after acquiring an additional 277 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Gentherm by 232.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,154 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 2,204 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Gentherm in the 3rd quarter worth $111,000. 97.13% of the stock is owned by institutional investors.

Gentherm Trading Down 1.5%

Shares of THRM stock opened at $27.82 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.30 and a current ratio of 1.92. The stock has a fifty day simple moving average of $33.73 and a two-hundred day simple moving average of $35.14. The firm has a market capitalization of $849.34 million, a PE ratio of 45.61 and a beta of 1.31. Gentherm Inc has a 52-week low of $22.75 and a 52-week high of $39.48.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings data on Thursday, February 19th. The auto parts company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.08). The business had revenue of $382.79 million during the quarter, compared to analysts’ expectations of $371.91 million. Gentherm had a net margin of 1.22% and a return on equity of 10.07%. Gentherm’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, analysts predict that Gentherm Inc will post 3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on THRM. Robert W. Baird cut their price target on Gentherm from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Weiss Ratings downgraded Gentherm from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. Loop Capital set a $38.00 price objective on Gentherm in a research report on Wednesday, February 25th. Wall Street Zen downgraded Gentherm from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Argus raised shares of Gentherm to a “hold” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.40.

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.