Gentex Co. (NASDAQ:GNTX) Sees Large Growth in Short Interest

Gentex Co. (NASDAQ:GNTX - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 4,200,000 shares, an increase of 9.9% from the March 15th total of 3,820,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is currently 2.9 days.

Gentex Stock Performance

Shares of GNTX traded down $0.31 during mid-day trading on Monday, reaching $33.94. 1,126,093 shares of the company were exchanged, compared to its average volume of 1,433,669. The business has a 50 day simple moving average of $35.80 and a two-hundred day simple moving average of $32.95. The stock has a market capitalization of $7.85 billion, a PE ratio of 18.45, a PEG ratio of 0.72 and a beta of 0.99. Gentex has a 52 week low of $25.85 and a 52 week high of $37.58.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The business had revenue of $589.13 million during the quarter, compared to the consensus estimate of $563.42 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts predict that Gentex will post 2.16 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, April 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.48 annualized dividend and a yield of 1.41%. Gentex's payout ratio is 26.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com raised shares of Gentex from a "hold" rating to a "buy" rating in a research note on Friday, February 23rd. Guggenheim boosted their price objective on Gentex from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on Gentex from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. B. Riley boosted their price target on Gentex from $42.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Gentex from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.67.

Insider Activity

In other news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now directly owns 62,555 shares of the company's stock, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the sale, the chief financial officer now owns 44,321 shares in the company, valued at approximately $1,464,365.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares in the company, valued at $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Institutional Trading of Gentex

A number of institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC lifted its stake in shares of Gentex by 414.3% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company's stock valued at $25,000 after purchasing an additional 725 shares during the period. Point72 Europe London LLP acquired a new position in Gentex in the fourth quarter valued at approximately $25,000. Neo Ivy Capital Management bought a new position in shares of Gentex during the 4th quarter worth approximately $29,000. National Bank of Canada FI grew its position in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company's stock worth $30,000 after buying an additional 571 shares during the period. Finally, VisionPoint Advisory Group LLC increased its stake in shares of Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company's stock valued at $39,000 after acquiring an additional 665 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

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.