Mirae Asset Global Investments Co. Ltd. cut its position in shares of Gentherm Incorporated (NASDAQ:THRM – Get Rating) by 15.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,966 shares of the auto parts company’s stock after selling 29,411 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.49% of Gentherm worth $11,976,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Swiss National Bank grew its stake in Gentherm by 7.4% in the 1st quarter. Swiss National Bank now owns 78,600 shares of the auto parts company’s stock valued at $5,741,000 after buying an additional 5,400 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Gentherm in the first quarter valued at approximately $395,000. Nordea Investment Management AB grew its position in shares of Gentherm by 5.8% in the first quarter. Nordea Investment Management AB now owns 131,642 shares of the auto parts company’s stock valued at $9,530,000 after purchasing an additional 7,185 shares during the last quarter. PDT Partners LLC increased its stake in shares of Gentherm by 44.4% during the fourth quarter. PDT Partners LLC now owns 24,700 shares of the auto parts company’s stock worth $2,146,000 after purchasing an additional 7,596 shares during the period. Finally, Riverwater Partners LLC lifted its holdings in Gentherm by 53.9% during the 1st quarter. Riverwater Partners LLC now owns 10,246 shares of the auto parts company’s stock worth $748,000 after purchasing an additional 3,587 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Craig Hallum dropped their price target on Gentherm to $80.00 in a report on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.20.
Gentherm Stock Performance
Gentherm (NASDAQ:THRM – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The auto parts company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.16). The company had revenue of $260.70 million during the quarter, compared to analyst estimates of $258.79 million. Gentherm had a net margin of 5.35% and a return on equity of 9.13%. Gentherm’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Research analysts anticipate that Gentherm Incorporated will post 1.92 earnings per share for the current year.
Insider Buying and Selling at Gentherm
In other Gentherm news, CEO Phillip Eyler sold 4,268 shares of Gentherm stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $62.01, for a total value of $264,658.68. Following the completion of the transaction, the chief executive officer now directly owns 103,839 shares of the company’s stock, valued at approximately $6,439,056.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 25,991 shares of company stock valued at $1,698,466 in the last three months. Corporate insiders own 1.32% of the company’s stock.
Gentherm Incorporated designs, develops, manufactures, and markets thermal management technologies. 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 that utilize proprietary electronics technology and software; and other climate comfort systems, including neck conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.
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