Jump Financial LLC Buys New Stake in Gentex Corporation $GNTX

Key Points

• Jump Financial LLC has invested approximately $3.80 million in Gentex Corporation, acquiring 163,238 shares, which accounts for 0.07% of the company's stock.
• Gentex reported a 14.8% increase in quarterly revenue year-over-year, with earnings per share of $0.47, surpassing analysts' expectations.
• The company has initiated a share repurchase plan authorizing the buyback of 40 million outstanding shares, signaling confidence in its stock value.

Jump Financial LLC purchased a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 163,238 shares of the auto parts company's stock, valued at approximately $3,803,000. Jump Financial LLC owned about 0.07% of Gentex as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC purchased a new position in Gentex in the first quarter valued at about $12,103,000. Cadence Bank boosted its holdings in Gentex by 4.8% in the first quarter. Cadence Bank now owns 24,448 shares of the auto parts company's stock valued at $570,000 after purchasing an additional 1,110 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Gentex by 4.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company's stock valued at $277,000 after buying an additional 521 shares in the last quarter. Capital Fund Management S.A. raised its stake in Gentex by 48.3% during the first quarter. Capital Fund Management S.A. now owns 111,477 shares of the auto parts company's stock valued at $2,597,000 after buying an additional 36,318 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Gentex during the first quarter valued at approximately $700,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

Shares of Gentex stock traded down $0.14 on Friday, reaching $28.01. 1,973,745 shares of the company were exchanged, compared to its average volume of 1,973,811. The company's 50-day moving average is $25.16 and its two-hundred day moving average is $23.58. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 15.82 and a beta of 0.82. Gentex Corporation has a 1-year low of $20.28 and a 1-year high of $31.72.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The business had revenue of $657.86 million for the quarter, compared to analysts' expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex announced that its board has approved a stock repurchase plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Analysts Set New Price Targets

GNTX has been the topic of several research reports. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research note on Friday, July 11th. Zacks Research upgraded Gentex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. UBS Group upped their price objective on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird upped their price objective on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.63.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.