Highland Capital Management LLC Reduces Position in Gentex Corp. (GNTX)
Highland Capital Management LLC cut its position in shares of Gentex Corp. (NASDAQ:GNTX) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,863 shares of the company’s stock after selling 223 shares during the period. Highland Capital Management LLC owned 0.08% of Gentex Corp. worth $3,843,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of GNTX. First Quadrant L P CA raised its stake in shares of Gentex Corp. by 6.9% in the second quarter. First Quadrant L P CA now owns 772,300 shares of the company’s stock worth $11,932,000 after buying an additional 50,100 shares in the last quarter. Dearborn Partners LLC acquired a new stake in Gentex Corp. during the second quarter worth approximately $190,000. Nisa Investment Advisors LLC raised its stake in Gentex Corp. by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 152,500 shares of the company’s stock worth $2,356,000 after buying an additional 500 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Gentex Corp. by 0.5% in the second quarter. Eqis Capital Management Inc. now owns 16,409 shares of the company’s stock worth $254,000 after buying an additional 88 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Gentex Corp. by 3,536.3% in the second quarter. BNP Paribas Arbitrage SA now owns 114,326 shares of the company’s stock worth $1,766,000 after buying an additional 111,182 shares in the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.
Shares of Gentex Corp. (NASDAQ:GNTX) traded down 1.30% during trading on Monday, hitting $18.25. 1,986,181 shares of the stock traded hands. Gentex Corp. has a 1-year low of $12.93 and a 1-year high of $18.51. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 15.20 and a beta of 0.84. The firm has a 50-day moving average of $17.31 and a 200-day moving average of $16.96.
Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business earned $429.60 million during the quarter, compared to the consensus estimate of $428.43 million. Gentex Corp. had a net margin of 20.86% and a return on equity of 19.53%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts forecast that Gentex Corp. will post $1.21 earnings per share for the current year.
A number of research firms have commented on GNTX. Zacks Investment Research lowered shares of Gentex Corp. from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $19.00 target price on shares of Gentex Corp. in a report on Tuesday, September 13th. Finally, FBR & Co lifted their target price on shares of Gentex Corp. from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, October 21st.
In other news, insider Kevin C. Nash sold 6,210 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $16.68, for a total transaction of $103,582.80. Following the completion of the transaction, the insider now owns 31,830 shares of the company’s stock, valued at $530,924.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James H. Wallace sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $16.78, for a total transaction of $201,360.00. Following the transaction, the director now directly owns 29,400 shares of the company’s stock, valued at approximately $493,332. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
Gentex Corp. Company Profile
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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