Gentex Corporation (NASDAQ:GNTX) Short Interest Up 19.1% in March
by Scott Moore · The Cerbat GemGentex Corporation (NASDAQ:GNTX – Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 10,341,203 shares, a growth of 19.1% from the March 15th total of 8,684,416 shares. Based on an average daily volume of 2,186,312 shares, the short-interest ratio is presently 4.7 days. Currently, 4.8% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
GNTX has been the topic of several research analyst reports. UBS Group reaffirmed a “neutral” rating and set a $24.00 price objective (down from $25.00) on shares of Gentex in a research note on Tuesday. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. B. Riley Financial decreased their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. Finally, Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.57.
Read Our Latest Analysis on Gentex
Gentex Stock Performance
Gentex stock traded up $0.81 during trading hours on Friday, hitting $22.63. 1,972,997 shares of the stock were exchanged, compared to its average volume of 1,865,490. The stock has a market capitalization of $4.83 billion, a P/E ratio of 13.01 and a beta of 0.77. Gentex has a 12 month low of $20.48 and a 12 month high of $29.38. The business’s 50-day moving average is $22.48 and its two-hundred day moving average is $23.53.
Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The firm had revenue of $644.40 million for the quarter, compared to analysts’ expectations of $650.90 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities analysts predict that Gentex will post 2.04 earnings per share for the current fiscal year.
Gentex Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, April 8th. Gentex’s dividend payout ratio is 27.59%.
Insider Buying and Selling
In related news, CEO Steven R. Downing sold 35,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total value of $866,250.00. Following the completion of the transaction, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin C. Nash sold 11,885 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This trade represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,133 shares of company stock valued at $1,442,313 over the last quarter. Corporate insiders own 0.45% of the company’s stock.
Institutional Trading of Gentex
Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gentex during the third quarter valued at approximately $38,000. Clearstead Advisors LLC grew its stake in shares of Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 1,985 shares during the last quarter. Arax Advisory Partners bought a new stake in shares of Gentex during the fourth quarter valued at approximately $52,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in shares of Gentex during the third quarter valued at approximately $65,000. 86.76% of the stock is owned by institutional investors.
About Gentex
Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).