13,803 Shares in Gentherm Inc $THRM Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of Gentherm Inc (NASDAQ:THRM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,803 shares of the auto parts company’s stock, valued at approximately $470,000.

Several other institutional investors have also bought and sold shares of THRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Gentherm by 5.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,613 shares of the auto parts company’s stock worth $2,904,000 after buying an additional 5,824 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Gentherm by 93.4% in the 1st quarter. Millennium Management LLC now owns 155,617 shares of the auto parts company’s stock valued at $4,161,000 after acquiring an additional 75,170 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Gentherm by 389.2% in the 1st quarter. Jane Street Group LLC now owns 84,403 shares of the auto parts company’s stock valued at $2,257,000 after acquiring an additional 67,150 shares during the last quarter. JPMorgan Chase & Co. grew its position in Gentherm by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 108,251 shares of the auto parts company’s stock worth $3,062,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Norges Bank purchased a new position in Gentherm in the second quarter worth about $854,000. Institutional investors own 97.13% of the company’s stock.

Insider Activity

In related news, SVP Wayne S. Kauffman III sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total transaction of $203,087.00. Following the completion of the sale, the senior vice president directly owned 27,421 shares of the company’s stock, valued at approximately $1,184,861.41. This trade represents 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. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on THRM. Weiss Ratings upgraded Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Freedom Capital cut Gentherm from a “strong-buy” rating to a “hold” rating in a 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. Zacks Research upgraded Gentherm from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their price target on Gentherm from $41.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Gentherm has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Gentherm Stock Performance

Shares of NASDAQ:THRM opened at $39.48 on Thursday. 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 Inc has a 12 month low of $27.00 and a 12 month high of $48.35. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 0.88 and a beta of 1.34. The firm’s 50-day moving average is $39.00 and its 200 day moving average is $34.05.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings data on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $404.94 million during the quarter, compared to the consensus estimate of $382.90 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Gentherm Inc will post 2.92 EPS for the current year.

Gentherm announced that its board has authorized a share repurchase program on Thursday, July 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the auto parts company to buy up to 36.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.