Renaissance Technologies LLC Boosts Stock Holdings in Gentherm Inc $THRM

Key Points

• Renaissance Technologies increased its Gentherm stake by 24.5% in the first quarter to 271,464 shares valued at about $7.5 million. Institutional investors and hedge funds collectively own 97.13% of the company.
• Gentherm beat quarterly expectations, reporting $0.75 EPS on $404.94 million in revenue, with revenue up 11% year over year. The company also authorized a $400 million share-buyback program covering up to 36.2% of outstanding shares.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $45.80, while recent targets range as high as $59.00.

Renaissance Technologies LLC raised its position in Gentherm Inc (NASDAQ:THRM - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned 0.89% of Gentherm worth $7,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gentherm by 385.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 543,200 shares of the auto parts company's stock valued at $18,501,000 after buying an additional 431,271 shares during the period. Royce & Associates LP acquired a new stake in Gentherm in the fourth quarter valued at approximately $12,080,000. Bastion Asset Management Inc. purchased a new stake in shares of Gentherm during the first quarter valued at approximately $6,213,000. Ameriprise Financial Inc. lifted its position in shares of Gentherm by 42.8% during the third quarter. Ameriprise Financial Inc. now owns 635,066 shares of the auto parts company's stock worth $21,630,000 after purchasing an additional 190,432 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Gentherm by 639.3% during the first quarter. Hillsdale Investment Management Inc. now owns 206,446 shares of the auto parts company's stock worth $5,735,000 after purchasing an additional 178,521 shares in the last quarter. 97.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gentherm news, SVP Wayne S. Kauffman III sold 4,700 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total transaction of $203,087.00. Following the completion of the transaction, the senior vice president owned 27,421 shares of the company's stock, valued at $1,184,861.41. The trade was a 14.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company's stock.

Gentherm Price Performance

Shares of Gentherm stock opened at $41.53 on Tuesday. Gentherm Inc has a 52 week low of $27.00 and a 52 week high of $48.35. The company has a current ratio of 2.06, a quick ratio of 1.49 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.28 billion, a PE ratio of 47.74 and a beta of 1.38. The company's 50-day moving average price is $36.70 and its two-hundred day moving average price is $33.06.

Gentherm (NASDAQ:THRM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.19. The business had revenue of $404.94 million for the quarter, compared to analyst estimates of $382.90 million. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. As a group, sell-side analysts anticipate that Gentherm Inc will post 2.92 EPS for the current fiscal year.

Gentherm declared that its Board of Directors has initiated a share buyback plan on Thursday, July 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the auto parts company to repurchase up to 36.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

THRM has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a "buy" rating and issued a $50.00 target price on shares of Gentherm in a research report on Wednesday, July 29th. Stifel Nicolaus lifted their price target on shares of Gentherm from $44.00 to $59.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Zacks Research raised shares of Gentherm from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Wall Street Zen downgraded shares of Gentherm from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Gentherm from $41.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Gentherm has an average rating of "Moderate Buy" and a consensus price target of $45.80.

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.

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