Malaga Cove Capital LLC Makes New Investment in Gentex Corporation $GNTX

Malaga Cove Capital LLC purchased a new position in Gentex Corporation (NASDAQ:GNTX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,570 shares of the auto parts company’s stock, valued at approximately $618,000.

A number of other large investors have also bought and sold shares of the stock. Clearstead Advisors LLC boosted its holdings in Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 437 shares in the last quarter. Arizona State Retirement System boosted its holdings in Gentex by 0.7% in the third quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after acquiring an additional 487 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Gentex by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after acquiring an additional 562 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Gentex by 2.1% in the fourth quarter. Merit Financial Group LLC now owns 30,641 shares of the auto parts company’s stock valued at $713,000 after acquiring an additional 635 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in Gentex by 2.3% in the third quarter. First Citizens Bank & Trust Co. now owns 29,248 shares of the auto parts company’s stock valued at $828,000 after acquiring an additional 650 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Up 0.3%

Shares of GNTX stock opened at $23.93 on Wednesday. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 13.44 and a beta of 0.78. The business’s fifty day moving average is $22.43 and its 200 day moving average is $23.07. Gentex Corporation has a twelve month low of $20.48 and a twelve month high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to analysts’ expectations of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities research analysts expect that Gentex Corporation will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the completion of the sale, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. This trade represents a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,693 shares of company stock valued at $385,194 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group set a $26.00 price target on shares of Gentex in a report on Sunday, April 26th. JPMorgan Chase & Co. lifted their price target on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Finally, Robert W. Baird upped their price target on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Gentex has an average rating of “Hold” and a consensus price target of $26.83.

Gentex Company Profile

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).