Renaissance Technologies LLC Has $7.54 Million Holdings in Gentherm Inc $THRM

Renaissance Technologies LLC increased its holdings in shares of Gentherm Inc (NASDAQ:THRM) by 24.5% in the first quarter, Holdings Channel.com reports. The firm owned 271,464 shares of the auto parts company’s stock after purchasing an additional 53,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Gentherm were worth $7,541,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Gabelli Funds LLC bought a new position in shares of Gentherm during the 1st quarter worth approximately $319,000. Gamco Investors INC. ET AL grew its position in Gentherm by 200.0% in the first quarter. Gamco Investors INC. ET AL now owns 25,500 shares of the auto parts company’s stock valued at $708,000 after purchasing an additional 17,000 shares in the last quarter. Morningstar Investment Management LLC increased its stake in Gentherm by 141.7% in the 1st quarter. Morningstar Investment Management LLC now owns 21,933 shares of the auto parts company’s stock valued at $609,000 after buying an additional 12,859 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Gentherm by 1.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 554,641 shares of the auto parts company’s stock worth $15,408,000 after buying an additional 10,058 shares in the last quarter. Finally, Inceptionr LLC acquired a new position in shares of Gentherm during the 1st quarter worth about $236,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

THRM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Gentherm from $41.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Zacks Research raised Gentherm from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Freedom Capital downgraded Gentherm from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Stifel Nicolaus lifted their price objective on shares of Gentherm from $44.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Wall Street Zen lowered shares of Gentherm from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.80.

Gentherm Price Performance

THRM stock opened at $41.53 on Tuesday. The company’s fifty day simple moving average is $36.70 and its 200 day simple moving average is $33.06. Gentherm Inc has a 12-month low of $27.00 and a 12-month high of $48.35. The company has a quick ratio of 1.49, a current ratio of 2.06 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 47.74 and a beta of 1.38.

Gentherm (NASDAQ:THRM) last released its quarterly earnings data on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, beating 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 company had revenue of $404.94 million during the quarter, compared to analyst estimates of $382.90 million. During the same quarter in the previous year, the business posted $0.54 EPS. Gentherm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts expect that Gentherm Inc will post 2.92 earnings per share for the current year.

Gentherm declared that its board has initiated a stock repurchase plan on Thursday, July 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 36.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Gentherm

In related news, SVP Wayne S. Kauffman III sold 4,700 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total value of $203,087.00. Following the transaction, the senior vice president 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 can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

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.