ClariVest Asset Management LLC Takes Position in Gentherm Incorporated (NASDAQ:THRM)

ClariVest Asset Management LLC acquired a new position in Gentherm Incorporated (NASDAQ:THRM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,886 shares of the auto parts company’s stock, valued at approximately $1,227,000. ClariVest Asset Management LLC owned 0.08% of Gentherm at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of THRM. Allspring Global Investments Holdings LLC boosted its position in Gentherm by 2,995.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 268,920 shares of the auto parts company’s stock worth $15,484,000 after purchasing an additional 260,233 shares during the last quarter. Norges Bank purchased a new position in shares of Gentherm in the fourth quarter worth approximately $10,991,000. Trigran Investments Inc. grew its position in Gentherm by 10.7% during the fourth quarter. Trigran Investments Inc. now owns 1,887,857 shares of the auto parts company’s stock valued at $98,848,000 after buying an additional 183,170 shares during the period. Granahan Investment Management LLC grew its position in Gentherm by 61.2% during the fourth quarter. Granahan Investment Management LLC now owns 412,971 shares of the auto parts company’s stock valued at $21,623,000 after buying an additional 156,842 shares during the period. Finally, Pembroke Management LTD increased its holdings in Gentherm by 36.5% during the first quarter. Pembroke Management LTD now owns 273,827 shares of the auto parts company’s stock valued at $15,767,000 after buying an additional 73,227 shares during the last quarter. Institutional investors own 97.13% of the company’s stock.

Insider Activity

In related news, CEO Phillip Eyler sold 15,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.03, for a total transaction of $750,450.00. Following the completion of the sale, the chief executive officer now owns 147,317 shares in the company, valued at $7,370,269.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.91% of the company’s stock.

Gentherm Stock Performance

THRM opened at $45.72 on Thursday. The company has a 50 day simple moving average of $50.09 and a two-hundred day simple moving average of $51.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.46. The firm has a market cap of $1.45 billion, a P/E ratio of 31.32 and a beta of 1.43. Gentherm Incorporated has a 1-year low of $38.21 and a 1-year high of $62.93.

Gentherm (NASDAQ:THRM) last released its earnings results on Wednesday, July 31st. The auto parts company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Gentherm had a net margin of 4.61% and a return on equity of 14.03%. The company had revenue of $375.70 million for the quarter, compared to analysts’ expectations of $375.82 million. During the same quarter in the previous year, the company earned $0.58 EPS. Gentherm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Gentherm Incorporated will post 2.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

THRM has been the topic of several analyst reports. StockNews.com upgraded shares of Gentherm from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Robert W. Baird lowered their target price on Gentherm from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their price target on Gentherm from $60.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Gentherm has a consensus rating of “Hold” and a consensus price target of $62.00.

Gentherm 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.