Allspring Global Investments Holdings LLC Raises Stock Position in Gentherm Incorporated (NASDAQ:THRM)

Allspring Global Investments Holdings LLC increased its stake in Gentherm Incorporated (NASDAQ:THRM) by 23.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,687 shares of the auto parts company’s stock after acquiring an additional 1,668 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Gentherm were worth $455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RK Capital Management LLC purchased a new stake in shares of Gentherm during the third quarter worth $11,020,000. Van Berkom & Associates Inc. grew its holdings in shares of Gentherm by 10.8% during the third quarter. Van Berkom & Associates Inc. now owns 1,173,567 shares of the auto parts company’s stock worth $63,678,000 after buying an additional 114,445 shares in the last quarter. Trigran Investments Inc. grew its holdings in shares of Gentherm by 6.1% during the third quarter. Trigran Investments Inc. now owns 1,704,687 shares of the auto parts company’s stock worth $92,496,000 after buying an additional 97,293 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Gentherm by 127.1% during the third quarter. Envestnet Asset Management Inc. now owns 169,381 shares of the auto parts company’s stock worth $9,191,000 after buying an additional 94,809 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Gentherm by 47.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,335 shares of the auto parts company’s stock worth $10,870,000 after buying an additional 64,352 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.

Gentherm Stock Down 1.4 %

Shares of NASDAQ:THRM opened at $50.01 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a market capitalization of $1.58 billion, a PE ratio of 40.66 and a beta of 1.49. The firm’s 50-day moving average is $54.36 and its two-hundred day moving average is $50.62. Gentherm Incorporated has a 1 year low of $38.21 and a 1 year high of $66.54.

Gentherm (NASDAQ:THRM) last issued its quarterly earnings results on Wednesday, February 21st. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.36. The company had revenue of $366.93 million for the quarter, compared to analyst estimates of $364.40 million. Gentherm had a net margin of 2.75% and a return on equity of 12.91%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. Analysts predict that Gentherm Incorporated will post 2.81 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Phillip Eyler sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $55.17, for a total transaction of $827,550.00. Following the sale, the chief executive officer now directly owns 147,317 shares in the company, valued at $8,127,478.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on THRM shares. Robert W. Baird upped their target price on shares of Gentherm from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. lowered their price target on shares of Gentherm from $63.00 to $60.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, StockNews.com raised shares of Gentherm from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.00.

Gentherm Company Profile

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.