Harber Asset Management LLC Invests $2.42 Million in Gentherm Inc $THRM

Harber Asset Management LLC bought a new position in shares of Gentherm Inc (NASDAQ:THRM) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 70,952 shares of the auto parts company’s stock, valued at approximately $2,420,000.

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

Gentherm Price Performance

THRM opened at $40.47 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.49. The stock has a market capitalization of $1.24 billion, a P/E ratio of 46.52 and a beta of 1.35. The company’s 50 day simple moving average is $38.35 and its 200-day simple moving average is $33.62. Gentherm Inc has a one year low of $27.00 and a one year high of $48.35.

Gentherm (NASDAQ:THRM) last posted its quarterly earnings data on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share 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 firm had revenue of $404.94 million during the quarter, compared to analysts’ expectations of $382.90 million. During the same quarter in the previous year, the company posted $0.54 EPS. Gentherm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Gentherm Inc will post 2.92 earnings per share for the current fiscal year.

Gentherm announced that its Board of Directors has approved a share buyback program on Thursday, July 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the auto parts company to repurchase up to 36.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

THRM has been the subject of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and set a $50.00 price target on shares of Gentherm in a report on Wednesday, July 29th. Wall Street Zen lowered Gentherm from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Freedom Capital lowered Gentherm from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Weiss Ratings upgraded Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Gentherm from $41.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Insider Activity at Gentherm

In other news, SVP Wayne S. Kauffman III sold 4,700 shares of the business’s stock in a transaction 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 owned 27,421 shares in the company, valued at $1,184,861.41. The trade was a 14.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Gentherm Profile

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.