Gentex Corp. (GNTX) Short Interest Update
Gentex Corp. (NASDAQ:GNTX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 24,193,392 shares, a decrease of 10.8% from the August 31st total of 27,135,578 shares. Based on an average daily trading volume, of 2,303,281 shares, the short-interest ratio is currently 10.5 days. Approximately 8.6% of the shares of the company are sold short.
In related news, CFO Steven R. Downing sold 8,820 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $17.62, for a total value of $155,408.40. Following the sale, the chief financial officer now owns 49,615 shares in the company, valued at approximately $874,216.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary F. Goode sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $17.57, for a total value of $421,680.00. Following the completion of the sale, the director now owns 28,000 shares in the company, valued at approximately $491,960. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Gentex Corp. by 4.5% in the first quarter. Geode Capital Management LLC now owns 3,095,133 shares of the company’s stock worth $48,561,000 after buying an additional 132,633 shares during the last quarter. Underhill Investment Management LLC boosted its stake in Gentex Corp. by 1.0% in the second quarter. Underhill Investment Management LLC now owns 979,150 shares of the company’s stock worth $15,128,000 after buying an additional 9,750 shares during the period. PGGM Investments boosted its stake in Gentex Corp. by 21.2% in the second quarter. PGGM Investments now owns 2,187,201 shares of the company’s stock worth $33,792,000 after buying an additional 382,663 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in Gentex Corp. during the first quarter worth $391,000. Finally, First Republic Investment Management Inc. boosted its stake in Gentex Corp. by 14.2% in the first quarter. First Republic Investment Management Inc. now owns 130,573 shares of the company’s stock worth $2,049,000 after buying an additional 16,224 shares during the period. Institutional investors own 86.22% of the company’s stock.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 17.56 on Friday. Gentex Corp. has a one year low of $12.93 and a one year high of $18.30. The firm’s 50-day moving average price is $17.71 and its 200-day moving average price is $16.50. The firm has a market cap of $5.04 billion, a PE ratio of 15.40 and a beta of 1.09.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Friday, July 22nd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The company earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. During the same period in the previous year, the firm posted $0.26 earnings per share. Gentex Corp.’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Gentex Corp. will post $1.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a yield of 2.05%. Gentex Corp.’s payout ratio is currently 31.30%.
A number of research firms recently weighed in on GNTX. FBR & Co restated a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th. Zacks Investment Research upgraded Gentex Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 27th. Finally, Wells Fargo & Co. restated an “outperform” rating and issued a $19.00 price target on shares of Gentex Corp. in a report on Tuesday, September 13th.
About Gentex Corp.
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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