Walleye Capital LLC Makes New Investment in Gentherm Inc $THRM

Key Points

• Walleye Capital purchased 23,521 Gentherm shares worth approximately $802,000, while institutional investors collectively own 97.13% of the company.
• Gentherm exceeded quarterly expectations, reporting $0.75 in EPS versus the $0.56 consensus and revenue of $404.94 million, up 11% year over year. Its board also authorized a $400 million share-repurchase program.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $45.80; however, an insider recently sold 4,700 shares at an average price of $43.21.

Walleye Capital LLC purchased a new stake in shares of Gentherm Inc (NASDAQ:THRM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 23,521 shares of the auto parts company's stock, valued at approximately $802,000. Walleye Capital LLC owned 0.08% of Gentherm as of its most recent SEC filing.

Several other large investors have also made changes to their positions in THRM. Farther Finance Advisors LLC grew its position in shares of Gentherm by 160.3% during the fourth quarter. Farther Finance Advisors LLC now owns 812 shares of the auto parts company's stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Gentherm in the 4th quarter worth approximately $35,000. Palladiem LLC purchased a new position in Gentherm in the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC lifted its holdings in Gentherm by 232.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,154 shares of the auto parts company's stock worth $89,000 after purchasing an additional 2,204 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in Gentherm during the 3rd quarter valued at approximately $111,000. 97.13% of the stock is currently owned by hedge funds and other institutional investors.

Gentherm Stock Performance

NASDAQ THRM opened at $44.00 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of 50.57 and a beta of 1.35. The business has a 50 day simple moving average of $37.79 and a two-hundred day simple moving average of $33.40. 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 1-year low of $27.00 and a 1-year high of $48.35.

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

Gentherm declared that its Board of Directors has approved a share repurchase program on Thursday, July 23rd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 36.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on THRM shares. Weiss Ratings upgraded shares of Gentherm from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Gentherm from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Stifel Nicolaus raised their target price on shares of Gentherm from $44.00 to $59.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Roth Capital reaffirmed a "buy" rating and set a $50.00 target price on shares of Gentherm in a research note on Wednesday, July 29th. Finally, Freedom Capital cut shares of Gentherm from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.80.

Insider Buying and Selling at Gentherm

In related 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 value of $203,087.00. Following the sale, the senior vice president owned 27,421 shares in the company, valued at approximately $1,184,861.41. The trade was a 14.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

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