Short Interest in Gentex Co. (NASDAQ:GNTX) Declines By 16.5%

Gentex Co. (NASDAQ:GNTX) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 7,022,800 shares, a decrease of 16.5% from the June 30th total of 8,410,200 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is presently 4.3 days.

In related news, Director James A. Hollars sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total transaction of $354,480.00. Following the completion of the transaction, the director now owns 51,707 shares of the company’s stock, valued at $1,309,221.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Neil Boehm sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $142,804.80. Following the transaction, the chief technology officer now directly owns 39,520 shares of the company’s stock, valued at approximately $1,000,646.40. The disclosure for this sale can be found here. Insiders have sold 36,394 shares of company stock valued at $937,122 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Gentex by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock worth $123,669,000 after buying an additional 283,696 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Gentex by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock worth $79,846,000 after buying an additional 303,378 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Gentex by 60.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 24,020 shares of the auto parts company’s stock worth $497,000 after buying an additional 9,053 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of Gentex by 8.9% in the 1st quarter. Alpha Windward LLC now owns 23,533 shares of the auto parts company’s stock worth $487,000 after buying an additional 1,920 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Gentex by 4.1% in the 1st quarter. Strs Ohio now owns 14,086 shares of the auto parts company’s stock worth $291,000 after buying an additional 558 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

Several equities analysts recently commented on GNTX shares. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 price target for the company in a research report on Tuesday, July 23rd. B. Riley set a $29.00 price target on shares of Gentex and gave the stock a “buy” rating in a research report on Friday, July 19th. BidaskClub raised shares of Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. Finally, ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.66.

GNTX traded down $0.34 during trading on Thursday, hitting $25.94. 2,276,262 shares of the company’s stock were exchanged, compared to its average volume of 1,760,262. Gentex has a 1 year low of $17.80 and a 1 year high of $27.94. The stock has a 50 day moving average price of $25.69 and a 200 day moving average price of $22.70. The firm has a market cap of $6.86 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 3.21 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. During the same period in the previous year, the firm earned $0.40 earnings per share. Gentex’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Gentex will post 1.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 annualized dividend and a yield of 1.77%. Gentex’s dividend payout ratio is currently 28.40%.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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