Gentex Corporation (GNTX) Stake Held by Investment Management of Virginia LLC
Investment Management of Virginia LLC continued to hold its position in shares of Gentex Corporation (NASDAQ:GNTX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,291 shares of the auto parts company’s stock at the end of the second quarter. Investment Management of Virginia LLC’s holdings in Gentex Corporation were worth $916,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Pegasus Partners Ltd. acquired a new position in Gentex Corporation during the second quarter valued at $3,504,000. BNP Paribas Arbitrage SA boosted its position in Gentex Corporation by 137.3% in the second quarter. BNP Paribas Arbitrage SA now owns 161,114 shares of the auto parts company’s stock valued at $3,056,000 after buying an additional 93,208 shares during the period. Bernzott Capital Advisors boosted its position in Gentex Corporation by 5.3% in the second quarter. Bernzott Capital Advisors now owns 1,228,370 shares of the auto parts company’s stock valued at $23,302,000 after buying an additional 61,325 shares during the period. Legal & General Group Plc boosted its position in Gentex Corporation by 7.4% in the second quarter. Legal & General Group Plc now owns 1,243,650 shares of the auto parts company’s stock valued at $23,592,000 after buying an additional 85,684 shares during the period. Finally, Alps Advisors Inc. boosted its position in Gentex Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 21,945 shares of the auto parts company’s stock valued at $416,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.
Gentex Corporation (GNTX) opened at 17.11 on Monday. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The stock’s 50 day moving average price is $17.82 and its 200 day moving average price is $19.55. The company has a market cap of $4.89 billion, a PE ratio of 13.58 and a beta of 1.18.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. Equities research analysts anticipate that Gentex Corporation will post $1.27 EPS for the current year.
Several equities analysts have recently weighed in on the company. BidaskClub cut Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated an “outperform” rating and set a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. FBR & Co reiterated an “outperform” rating and set a $25.00 price objective on shares of Gentex Corporation in a report on Monday, July 24th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Monday, July 24th. Finally, Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $21.75.
In related news, Chairman Fred Bauer sold 239,400 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the completion of the sale, the chairman now directly owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Mulder sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
About Gentex Corporation
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Corporation (NASDAQ:GNTX).
Receive News & Stock Ratings for Gentex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corporation and related stocks with our FREE daily email newsletter.