Hudson Bay Capital Management LP Makes New $3.61 Million Investment in Gentex Corporation $GNTX

Hudson Bay Capital Management LP bought a new stake in Gentex Corporation (NASDAQ:GNTX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 127,657 shares of the auto parts company’s stock, valued at approximately $3,613,000.

Other institutional investors also recently made changes to their positions in the company. Swiss Life Asset Management Ltd acquired a new stake in shares of Gentex during the 3rd quarter worth approximately $301,000. CIBC Private Wealth Group LLC boosted its position in Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 1,985 shares during the period. Coldstream Capital Management Inc. bought a new position in Gentex during the 3rd quarter worth $202,000. Danske Bank A S bought a new position in Gentex during the 3rd quarter worth $11,149,000. Finally, Woodline Partners LP acquired a new stake in Gentex in the third quarter worth $15,865,000. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GNTX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research report on Wednesday, January 14th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. B. Riley Financial dropped their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Finally, UBS Group set a $25.00 price target on Gentex in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.71.

Gentex Price Performance

NASDAQ GNTX opened at $20.70 on Friday. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $29.38. The firm has a market capitalization of $4.46 billion, a PE ratio of 11.90 and a beta of 0.76. The company’s 50 day simple moving average is $23.30 and its 200 day simple moving average is $24.42.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. Sell-side analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.48 annualized dividend and a yield of 2.3%. Gentex’s dividend payout ratio (DPR) is currently 27.59%.

Insider Buying and Selling

In related news, CTO Neil Boehm sold 11,248 shares of Gentex stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the sale, the chief executive officer directly owned 211,670 shares of the company’s stock, valued at $5,238,832.50. The trade was a 14.19% 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 58,133 shares of company stock valued at $1,442,313 over the last three months. Company insiders own 0.45% of the company’s stock.

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).