Hudson Bay Capital Management LP Acquires New Holdings in Gentex Corporation $GNTX

Key Points

• Hudson Bay Capital Management LP purchased a new stake of 127,657 shares in Gentex, worth about $3.613 million and representing roughly 0.06% of the company at quarter-end.
• Other institutions added large positions—Woodline Partners (~$15.87M) and Danske Bank (~$11.15M)—and institutional ownership of Gentex is high at 86.76%.
• Gentex beat Q4 EPS estimates ($0.44 vs. $0.43) with revenue up 19% year-over-year, announced a $0.12 quarterly dividend (2.3% yield), but insiders including the CEO and CFO recently sold shares (CEO 35,000; CFO 11,885).

Hudson Bay Capital Management LP purchased a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 127,657 shares of the auto parts company's stock, valued at approximately $3,613,000. Hudson Bay Capital Management LP owned approximately 0.06% of Gentex at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GNTX. Swiss Life Asset Management Ltd acquired a new stake in Gentex during the 3rd quarter valued at $301,000. CIBC Private Wealth Group LLC raised its holdings in shares of Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company's stock worth $58,000 after acquiring an additional 1,985 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Gentex in the 3rd quarter valued at about $202,000. Danske Bank A S purchased a new stake in Gentex in the 3rd quarter worth approximately $11,149,000. Finally, Woodline Partners LP purchased a new stake in shares of Gentex in the third quarter valued at $15,865,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

GNTX opened at $20.70 on Friday. The company has a market capitalization of $4.46 billion, a P/E ratio of 11.90 and a beta of 0.76. The company has a 50-day moving average of $23.30 and a 200-day moving average of $24.42. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $29.38.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a $0.12 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. Gentex's dividend payout ratio (DPR) is presently 27.59%.

Insider Activity

In other news, CEO Steven R. Downing sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total value of $866,250.00. Following the completion of the sale, the chief executive officer directly owned 211,670 shares in the company, valued at approximately $5,238,832.50. The trade was a 14.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin C. Nash sold 11,885 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the sale, the chief financial officer directly owned 59,430 shares in the company, valued at approximately $1,484,561.40. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 58,133 shares of company stock worth $1,442,313. 0.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Gentex from a "hold" rating to a "buy" rating in a report on Sunday, March 8th. B. Riley Financial decreased their price objective on shares of Gentex from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Monday, February 2nd. UBS Group set a $25.00 price target on Gentex in a report on Monday, February 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Gentex in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $26.00 target price on Gentex in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $26.71.

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).

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