Royal Bank of Canada Has $8.35 Million Position in Gentherm Inc $THRM

Key Points

• Royal Bank of Canada cut its Gentherm position by 20.2% in the first quarter, selling 76,065 shares and retaining 300,421 shares valued at approximately $8.35 million. Institutional investors collectively own 97.13% of Gentherm.
• Gentherm reported quarterly EPS of $0.75, beating estimates by $0.19, while revenue rose 11% year over year to $404.94 million. The company also authorized a $400 million share buyback, allowing repurchases of up to 36.2% of outstanding shares.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $45.80; targets range from $34 to $59. Gentherm shares opened at $41.52, while recent insider activity included a senior vice president selling 4,700 shares.

Royal Bank of Canada lowered its holdings in Gentherm Inc (NASDAQ:THRM - Free Report) by 20.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,421 shares of the auto parts company's stock after selling 76,065 shares during the period. Royal Bank of Canada owned approximately 0.98% of Gentherm worth $8,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its stake in Gentherm by 385.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 543,200 shares of the auto parts company's stock worth $18,501,000 after acquiring an additional 431,271 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Gentherm in the 4th quarter valued at about $12,080,000. Bastion Asset Management Inc. acquired a new position in shares of Gentherm in the 1st quarter valued at about $6,213,000. Ameriprise Financial Inc. lifted its position in shares of Gentherm by 42.8% in 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% in 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. Institutional investors and hedge funds own 97.13% of the company's stock.

Gentherm Stock Up 0.6%

THRM stock opened at $41.52 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.49 and a debt-to-equity ratio of 0.38. Gentherm Inc has a 1 year low of $27.00 and a 1 year high of $48.35. The company has a fifty day simple moving average of $37.38 and a 200 day simple moving average of $33.22. The firm has a market cap of $1.27 billion, a PE ratio of 47.72 and a beta of 1.35.

Gentherm (NASDAQ:THRM - Get Free Report) last posted its earnings results on Thursday, July 23rd. The auto parts company reported $0.75 EPS for the quarter, topping 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 firm had revenue of $404.94 million for the quarter, compared to the consensus estimate of $382.90 million. During the same period in the prior year, the business posted $0.54 earnings per share. The business's quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Gentherm Inc will post 2.92 EPS for the current fiscal year.

Gentherm declared that its board has approved a share buyback plan on Thursday, July 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the auto parts company to reacquire up to 36.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on THRM shares. JPMorgan Chase & Co. boosted their price objective 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. Weiss Ratings upgraded shares of Gentherm from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their target price 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. Freedom Capital cut shares of Gentherm from a "strong-buy" rating to a "hold" rating in a report on Friday, July 24th. Finally, Stifel Nicolaus upped 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.80.

Gentherm Profile

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.

Want to see what other hedge funds are holding THRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentherm Inc (NASDAQ:THRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source