Capstone Investment Advisors LLC Makes New Investment in Gentex Corporation $GNTX

Capstone Investment Advisors LLC purchased a new stake in shares of Gentex Corporation (NASDAQ:GNTX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,592 shares of the auto parts company’s stock, valued at approximately $1,026,000.

A number of other institutional investors have also modified their holdings of GNTX. Anchor Investment Management LLC purchased a new position in shares of Gentex in the 1st quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its position in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 1,985 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Gentex in the second quarter valued at approximately $54,000. Arax Advisory Partners purchased a new position in Gentex in the fourth quarter worth $52,000. Finally, AdvisorNet Financial Inc grew its holdings in Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after purchasing an additional 2,299 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Trading Down 3.4%

NASDAQ:GNTX opened at $23.06 on Friday. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38. The firm has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $23.48. The company has a market capitalization of $4.91 billion, a P/E ratio of 12.20 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

GNTX has been the subject of several analyst reports. Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. reduced their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, UBS Group restated a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.80.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).