Legal & General Group Plc Makes New $2.39 Million Investment in Gentherm Inc $THRM

Legal & General Group Plc bought a new stake in Gentherm Inc (NASDAQ:THRM) in the second quarter, HoldingsChannel.com reports. The fund bought 69,953 shares of the auto parts company’s stock, valued at approximately $2,386,000.

A number of other institutional investors and hedge funds have also made changes to their positions in THRM. Farther Finance Advisors LLC raised its position in shares of Gentherm by 160.3% during the 4th 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 during the period. Meeder Asset Management Inc. acquired a new position in Gentherm during the 2nd quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new position in Gentherm during the 4th quarter worth $35,000. Allworth Financial LP acquired a new stake in Gentherm in the second quarter worth $37,000. Finally, Palladiem LLC acquired a new stake in Gentherm in the fourth quarter worth $52,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gentherm

In related news, SVP Wayne Kauffman, III sold 4,700 shares of Gentherm 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 directly owned 27,421 shares of the company’s stock, valued at $1,184,861.41. The trade was a 14.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

THRM has been the subject of several analyst reports. Wall Street Zen downgraded shares of Gentherm from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Freedom Capital downgraded shares of Gentherm from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Stifel Nicolaus upped their target price on shares of Gentherm from $44.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Roth Capital restated a “buy” rating and issued a $50.00 price target on shares of Gentherm in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded Gentherm from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Gentherm Stock Performance

THRM opened at $40.70 on Friday. The business has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $34.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.49. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 46.78, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34. Gentherm Inc has a 1-year low of $27.00 and a 1-year high of $48.35.

Gentherm (NASDAQ:THRM) last issued its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.19. Gentherm had a return on equity of 12.06% and a net margin of 1.68%.The company had revenue of $404.94 million for the quarter, compared to analysts’ expectations of $382.90 million. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that Gentherm Inc will post 2.92 EPS for the current fiscal year.

Gentherm announced that its board has approved a share repurchase program on Thursday, July 23rd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the auto parts company to purchase up to 36.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.