Insider Selling: Gentex VP Unloads 1,163 Shares of Stock (GNTX)
Gentex (NASDAQ:GNTX) VP Paul V. Flynn unloaded 1,163 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $29.10, for a total value of $33,843.30. Following the completion of the transaction, the vice president now directly owns 4,547 shares in the company, valued at approximately $132,318. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Gentex (NASDAQ:GNTX) opened at 28.96 on Friday. Gentex has a 52 week low of $21.29 and a 52 week high of $34.41. The stock’s 50-day moving average is $29.03 and its 200-day moving average is $30.73. The company has a market cap of $4.226 billion and a P/E ratio of 17.04. Gentex also was the target of a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 2,612,202 shares, an increase of 35.1% from the May 30th total of 1,934,216 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 823,476 shares, the short-interest ratio is currently 3.2 days.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.02. The company had revenue of $335.70 million for the quarter, compared to the consensus estimate of $324.20 million. During the same quarter last year, the company posted $0.32 earnings per share. Gentex’s revenue was up 24.6% compared to the same quarter last year. On average, analysts predict that Gentex will post $1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, July 18th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Gentex’s previous quarterly dividend of $0.14.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Gentex in a research note on Friday, May 2nd. They set an “outperform” rating and a $39.00 price target on the stock. Separately, analysts at Pacific Crest initiated coverage on shares of Gentex in a research note on Tuesday, April 29th. They set a “sector perform” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Gentex from $42.00 to $45.00 in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.71.
Gentex Corporation is a supplier of automatic-dimming (NASDAQ:GNTX) rear-view mirrors and camera-based lighting-assist features to the global automotive industry.
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