Morgan Stanley Has $5.15 Million Position in Gentherm Inc (THRM)
Morgan Stanley reduced its stake in shares of Gentherm Inc (NASDAQ:THRM) by 27.4% during the first quarter, Holdings Channel reports. The firm owned 131,137 shares of the auto parts company’s stock after selling 49,609 shares during the period. Morgan Stanley’s holdings in Gentherm were worth $5,146,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new position in Gentherm during the first quarter valued at about $124,000. First Bank & Trust boosted its position in Gentherm by 5.2% in the first quarter. First Bank & Trust now owns 3,371 shares of the auto parts company’s stock valued at $132,000 after buying an additional 166 shares during the period. Victory Capital Management Inc. boosted its position in Gentherm by 17.8% in the first quarter. Victory Capital Management Inc. now owns 3,975 shares of the auto parts company’s stock valued at $156,000 after buying an additional 602 shares during the period. State of Alaska Department of Revenue boosted its position in Gentherm by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 4,040 shares of the auto parts company’s stock valued at $158,000 after buying an additional 90 shares during the period. Finally, Forward Management LLC boosted its position in Gentherm by 5.0% in the first quarter. Forward Management LLC now owns 5,104 shares of the auto parts company’s stock valued at $201,000 after buying an additional 245 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.
Gentherm Inc (NASDAQ:THRM) traded down 0.405% during trading on Wednesday, hitting $30.775. The stock had a trading volume of 54,819 shares. Gentherm Inc has a 12 month low of $26.60 and a 12 month high of $40.80. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 14.123 and a beta of 1.93. The firm has a 50 day moving average of $37.84 and a 200-day moving average of $36.93.
Gentherm (NASDAQ:THRM) last issued its quarterly earnings results on Thursday, July 27th. The auto parts company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.38. Gentherm had a net margin of 8.34% and a return on equity of 16.34%. The business had revenue of $243.40 million during the quarter, compared to analyst estimates of $244.48 million. During the same period in the previous year, the company posted $0.59 earnings per share. Gentherm’s revenue was up 4.6% compared to the same quarter last year. Equities analysts predict that Gentherm Inc will post $2.00 earnings per share for the current year.
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Several research firms recently issued reports on THRM. BidaskClub cut Gentherm from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Barrington Research lowered their price objective on Gentherm from $47.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Craig Hallum cut Gentherm from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $38.00 in a research report on Friday, July 28th. Zacks Investment Research cut Gentherm from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Roth Capital set a $33.00 price objective on Gentherm and gave the company a “hold” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Gentherm presently has a consensus rating of “Hold” and an average price target of $40.75.
In other Gentherm news, VP Erin Erwine Ascher sold 1,800 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $39.17, for a total transaction of $70,506.00. Following the completion of the sale, the vice president now directly owns 23,839 shares of the company’s stock, valued at $933,773.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.
Gentherm Incorporated (Gentherm) is a global technology company engaged in the design, development, and manufacturing of thermal management technologies. The Company has two segments: Automotive and Industrial. Its products provide solutions for automotive passenger comfort and convenience, battery thermal management, remote power generation, patient temperature management, environmental product testing and other consumer and industrial temperature control needs.
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