Man Group plc Acquires New Stake in Gentherm Inc $THRM

Man Group plc purchased a new stake in shares of Gentherm Inc (NASDAQ:THRM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 146,465 shares of the auto parts company’s stock, valued at approximately $4,996,000. Man Group plc owned 0.48% of Gentherm as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in THRM. Jupiter Topco LLC bought a new stake in shares of Gentherm during the 2nd quarter valued at $492,000. Hsbc Holdings PLC bought a new position in Gentherm in the 2nd quarter worth $470,000. Legal & General Group Plc purchased a new position in Gentherm during the second quarter valued at $2,386,000. The Manufacturers Life Insurance Company bought a new stake in Gentherm during the second quarter valued at about $283,000. Finally, Front Street Capital Management Inc. bought a new stake in Gentherm during the second quarter valued at about $1,311,000. Hedge funds and other institutional investors own 97.13% of the company’s stock.

Gentherm Stock Performance

Gentherm stock opened at $39.54 on Monday. Gentherm Inc has a 1 year low of $27.00 and a 1 year high of $48.35. The firm’s 50 day moving average price is $38.76 and its 200-day moving average price is $33.91. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.49. The stock has a market cap of $1.22 billion, a P/E ratio of 45.45 and a beta of 1.35.

Gentherm (NASDAQ:THRM) last issued its earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.19. The firm had revenue of $404.94 million during the quarter, compared to analyst estimates of $382.90 million. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. Gentherm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities analysts predict that Gentherm Inc will post 2.92 earnings per share for the current fiscal year.

Gentherm announced that its board has approved a share repurchase program on Thursday, July 23rd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 36.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Gentherm from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their target price on shares of Gentherm from $41.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Wall Street Zen lowered Gentherm from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Stifel Nicolaus raised their price target on Gentherm from $44.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Freedom Capital downgraded Gentherm from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Insider Buying and Selling

In other Gentherm news, SVP Wayne S. Kauffman III sold 4,700 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total value of $203,087.00. Following the sale, the senior vice president owned 27,421 shares in the company, valued at $1,184,861.41. The trade was a 14.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

Gentherm Company Profile

Gentherm Incorporated (NASDAQ: THRM) is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company’s core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm’s product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.

In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.