Connors Investor Services Inc. Reduces Stock Position in Gentherm Incorporated (NASDAQ:THRM)

Connors Investor Services Inc. lessened its stake in Gentherm Incorporated (NASDAQ:THRM) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,534 shares of the auto parts company’s stock after selling 8,871 shares during the quarter. Connors Investor Services Inc. owned about 0.11% of Gentherm worth $1,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Moody National Bank Trust Division raised its holdings in shares of Gentherm by 36.1% during the 4th quarter. Moody National Bank Trust Division now owns 8,136 shares of the auto parts company’s stock worth $426,000 after acquiring an additional 2,157 shares during the period. SG Americas Securities LLC raised its stake in Gentherm by 25.0% during the fourth quarter. SG Americas Securities LLC now owns 9,311 shares of the auto parts company’s stock worth $488,000 after purchasing an additional 1,863 shares during the period. Legato Capital Management LLC raised its stake in Gentherm by 23.0% during the fourth quarter. Legato Capital Management LLC now owns 16,995 shares of the auto parts company’s stock worth $890,000 after purchasing an additional 3,175 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Gentherm by 25.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 175,591 shares of the auto parts company’s stock valued at $9,194,000 after purchasing an additional 35,854 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Gentherm by 23.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 8,687 shares of the auto parts company’s stock valued at $455,000 after buying an additional 1,668 shares during the period. Hedge funds and other institutional investors own 97.13% of the company’s stock.

Insider Buying and Selling at Gentherm

In other news, CEO Phillip Eyler sold 15,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $54.04, for a total transaction of $810,600.00. Following the sale, the chief executive officer now owns 147,317 shares of the company’s stock, valued at $7,961,010.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 45,000 shares of company stock valued at $2,338,650 in the last three months. 1.91% of the stock is owned by corporate insiders.

Gentherm Trading Down 4.2 %

Shares of NASDAQ:THRM traded down $2.21 during mid-day trading on Friday, reaching $50.06. 107,157 shares of the company were exchanged, compared to its average volume of 153,733. Gentherm Incorporated has a 1 year low of $38.21 and a 1 year high of $66.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.10 and a quick ratio of 1.44. The firm’s 50-day simple moving average is $50.95 and its 200 day simple moving average is $51.69. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 34.29 and a beta of 1.46.

Gentherm (NASDAQ:THRM) last released its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.43 by $0.19. The business had revenue of $356.00 million during the quarter, compared to analyst estimates of $361.11 million. Gentherm had a return on equity of 13.56% and a net margin of 3.23%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. Equities research analysts forecast that Gentherm Incorporated will post 2.94 EPS for the current year.

Analyst Ratings Changes

THRM has been the topic of several analyst reports. Robert W. Baird reduced their price target on shares of Gentherm from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on Gentherm from $63.00 to $60.00 and set an “underweight” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.50.

About Gentherm

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.