Comerica Bank Lowers Stake in Gentherm Incorporated (NASDAQ:THRM)

Comerica Bank lowered its holdings in shares of Gentherm Incorporated (NASDAQ:THRM – Get Rating) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 34,989 shares of the auto parts company’s stock after selling 1,918 shares during the period. Comerica Bank’s holdings in Gentherm were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in THRM. Assenagon Asset Management S.A. increased its position in Gentherm by 17.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 27,213 shares of the auto parts company’s stock valued at $1,353,000 after buying an additional 4,011 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its position in shares of Gentherm by 5.6% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 23,395 shares of the auto parts company’s stock worth $1,163,000 after purchasing an additional 1,250 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Gentherm by 6.6% in the 3rd quarter. Guinness Asset Management LTD now owns 483,735 shares of the auto parts company’s stock worth $24,056,000 after purchasing an additional 29,892 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Gentherm in the third quarter worth about $786,000. Finally, Bouvel Investment Partners LLC lifted its stake in shares of Gentherm by 1.5% in the third quarter. Bouvel Investment Partners LLC now owns 20,065 shares of the auto parts company’s stock worth $998,000 after buying an additional 294 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Gentherm from a “c+” rating to a “b-” rating in a report on Friday, December 2nd. Seaport Res Ptn reissued a “buy” rating on shares of Gentherm in a research report on Wednesday, November 2nd. Finally, StockNews.com began coverage on shares of Gentherm in a report on Wednesday, October 12th. They set a “hold” rating for the company.

Insider Activity

In other Gentherm news, SVP Yijing Brentano sold 1,104 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $69.96, for a total transaction of $77,235.84. Following the sale, the senior vice president now owns 16,641 shares in the company, valued at approximately $1,164,204.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Gentherm news, SVP Yijing Brentano sold 1,104 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $69.96, for a total value of $77,235.84. Following the completion of the sale, the senior vice president now owns 16,641 shares in the company, valued at approximately $1,164,204.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew Fisch sold 1,334 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $74.98, for a total value of $100,023.32. Following the sale, the senior vice president now directly owns 13,614 shares in the company, valued at $1,020,777.72. The disclosure for this sale can be found here. Insiders have sold a total of 2,838 shares of company stock valued at $207,271 in the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Gentherm Price Performance

NASDAQ THRM opened at $71.49 on Friday. The company has a 50-day moving average price of $69.91 and a 200-day moving average price of $63.35. Gentherm Incorporated has a 52 week low of $49.45 and a 52 week high of $95.19. The company has a quick ratio of 1.47, a current ratio of 2.20 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.37 billion, a P/E ratio of 49.30 and a beta of 1.30.

Gentherm (NASDAQ:THRM – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The auto parts company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.14. Gentherm had a net margin of 4.39% and a return on equity of 10.22%. The firm had revenue of $332.96 million during the quarter, compared to the consensus estimate of $318.54 million. Equities research analysts anticipate that Gentherm Incorporated will post 2.05 earnings per share for the current year.

About Gentherm

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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.