Numerai GP LLC Purchases Shares of 15,844 Gentex Co. (NASDAQ:GNTX)

Numerai GP LLC acquired a new stake in Gentex Co. (NASDAQ:GNTX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,844 shares of the auto parts company's stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GNTX. Midwest Capital Advisors LLC purchased a new position in shares of Gentex during the fourth quarter worth about $26,000. TD Private Client Wealth LLC grew its stake in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after buying an additional 662 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Gentex during the 4th quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after buying an additional 593 shares during the last quarter. Finally, LRI Investments LLC grew its stake in Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock worth $79,000 after buying an additional 686 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the transaction, the director now directly owns 5,939 shares in the company, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Robert W. Baird restated a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Guggenheim dropped their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. B. Riley restated a "buy" rating and issued a $32.50 price objective (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $28.31.

Gentex Price Performance

Shares of NASDAQ GNTX traded down $0.03 during trading on Monday, hitting $23.04. 2,097,574 shares of the company were exchanged, compared to its average volume of 1,784,458. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a 1 year low of $20.28 and a 1 year high of $35.32. The firm's fifty day moving average price is $22.49 and its 200 day moving average price is $26.03.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, research analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, April 9th. Gentex's dividend payout ratio is currently 28.07%.

About Gentex

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.