State of Wyoming Makes New $563,000 Investment in Gentherm Inc $THRM

State of Wyoming purchased a new stake in Gentherm Inc (NASDAQ:THRM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,503 shares of the auto parts company’s stock, valued at approximately $563,000. State of Wyoming owned approximately 0.05% of Gentherm as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of THRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 acquiring an additional 5,824 shares during the last quarter. Millennium Management LLC raised its position in shares of Gentherm by 93.4% during the first quarter. Millennium Management LLC now owns 155,617 shares of the auto parts company’s stock worth $4,161,000 after purchasing an additional 75,170 shares during the period. Jane Street Group LLC lifted its holdings in shares of Gentherm by 389.2% during the first quarter. Jane Street Group LLC now owns 84,403 shares of the auto parts company’s stock valued at $2,257,000 after purchasing an additional 67,150 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gentherm by 1.7% during the second quarter. JPMorgan Chase & Co. now owns 108,251 shares of the auto parts company’s stock valued at $3,062,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Gentherm in the 2nd quarter valued at $526,000. Institutional investors and hedge funds own 97.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on THRM. Roth Capital reissued a “buy” rating and issued a $50.00 price target on shares of Gentherm in a research note on Wednesday, July 29th. Robert W. Baird upped their price objective on shares of Gentherm from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Stifel Nicolaus boosted their price target on shares of Gentherm from $44.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Gentherm from $41.00 to $48.00 and gave the company 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 issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.80.

Gentherm Price Performance

Shares of Gentherm stock opened at $44.00 on Monday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 50.57 and a beta of 1.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.49. Gentherm Inc has a 52-week low of $27.00 and a 52-week high of $48.35. The stock has a 50-day simple moving average of $37.79 and a 200-day simple moving average of $33.38.

Gentherm (NASDAQ:THRM) last released its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $382.90 million. During the same quarter last year, the firm earned $0.54 EPS. Gentherm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Gentherm Inc will post 2.92 earnings per share for the current fiscal year.

Gentherm announced that its Board of Directors has initiated a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the auto parts company to reacquire up to 36.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, SVP Wayne S. Kauffman III sold 4,700 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total transaction 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 represents a 14.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.