Evermore Global Advisors LLC Acquires New Position in Gentherm Inc (THRM)
Evermore Global Advisors LLC acquired a new stake in shares of Gentherm Inc (NASDAQ:THRM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 77,500 shares of the auto parts company’s stock, valued at approximately $3,046,000. Gentherm makes up approximately 1.0% of Evermore Global Advisors LLC’s portfolio, making the stock its 15th largest holding. Evermore Global Advisors LLC owned 0.21% of Gentherm at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in THRM. SG Americas Securities LLC purchased a new stake in Gentherm during the 1st quarter valued at about $112,000. Sei Investments Co. grew its stake in Gentherm by 59.0% during the 2nd quarter. Sei Investments Co. now owns 4,915 shares of the auto parts company’s stock valued at $193,000 after acquiring an additional 1,824 shares in the last quarter. First Mercantile Trust Co. grew its stake in Gentherm by 634.3% during the 2nd quarter. First Mercantile Trust Co. now owns 5,140 shares of the auto parts company’s stock valued at $202,000 after acquiring an additional 4,440 shares in the last quarter. Amalgamated Bank purchased a new stake in Gentherm during the 2nd quarter valued at about $212,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Gentherm during the 2nd quarter valued at about $216,000. 98.71% of the stock is owned by institutional investors.
NASDAQ:THRM opened at $45.80 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 0.79 and a beta of 1.73. Gentherm Inc has a 1-year low of $29.50 and a 1-year high of $46.90.
In other news, CFO Barry G. Steele sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $40.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 88,234 shares in the company, valued at approximately $3,529,360. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald T. Hundzinski acquired 1,500 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was bought at an average price of $45.90 per share, for a total transaction of $68,850.00. Following the completion of the acquisition, the director now owns 9,831 shares in the company, valued at approximately $451,242.90. The disclosure for this purchase can be found here. Insiders sold a total of 117,619 shares of company stock worth $4,839,627 over the last quarter. 3.10% of the stock is currently owned by company insiders.
Several brokerages recently issued reports on THRM. Zacks Investment Research raised shares of Gentherm from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets upped their price objective on shares of Gentherm from $46.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. TheStreet raised shares of Gentherm from a “c+” rating to a “b” rating in a research note on Friday, July 27th. Roth Capital set a $43.00 price objective on shares of Gentherm and gave the company a “hold” rating in a research note on Friday, July 27th. Finally, Buckingham Research boosted their target price on shares of Gentherm from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.00.
Gentherm Company Profile
Gentherm Incorporated designs, develops, and manufactures thermal management technologies in North America, Europe, and Asia. The company operates through two segments, Automotive and Industrial. The Automotive segment offers automotive seat comfort systems, including seat heaters, variable temperature climate control seats that are designed to provide individualized thermal comfort to automobile passengers; and integrated electronic components, such as blowers and electronic control units.
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