Insider Selling: Gentex Director Sells 4,256 Shares of Stock (GNTX)
Gentex (NASDAQ:GNTX) Director John A. Mulder sold 4,256 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $29.57, for a total value of $125,849.92. Following the sale, the director now directly owns 40,052 shares of the company’s stock, valued at approximately $1,184,338. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Gentex (NASDAQ:GNTX) traded down 0.68% on Thursday, hitting $29.34. 147,292 shares of the company’s stock traded hands. Gentex has a 52-week low of $22.33 and a 52-week high of $34.41. The stock’s 50-day moving average is $29.12 and its 200-day moving average is $29.73. The company has a market cap of $4.290 billion and a P/E ratio of 15.88. Gentex also was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 3,254,435 shares, a growth of 33.1% from the July 31st total of 2,444,440 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 731,106 shares, the days-to-cover ratio is presently 4.5 days.
Separately, analysts at Wellington Shields raised their price target on shares of Gentex from $40.00 to $43.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Gentex currently has a consensus rating of “Buy” and a consensus price target of $36.71.
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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