Magnetar Financial LLC Purchases Shares of 15,795 Gentex Co. (NASDAQ:GNTX)

Magnetar Financial LLC purchased a new stake in shares of Gentex Co. (NASDAQ:GNTX) in the 4th quarter, Holdings Channel reports. The fund purchased 15,795 shares of the auto parts company’s stock, valued at approximately $454,000.

Several other hedge funds have also added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC bought a new position in Gentex during the 4th quarter worth $26,000. Synergy Asset Management LLC bought a new position in Gentex during the 4th quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after buying an additional 593 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Gentex during the 3rd quarter worth $125,000. Finally, GAMMA Investing LLC increased its position in Gentex by 159.1% during the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after buying an additional 3,152 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GNTX shares. JPMorgan Chase & Co. lowered their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $31.00 price target on Gentex in a research report on Monday, February 3rd. UBS Group decreased their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. B. Riley restated a “buy” rating and issued a $32.50 price target (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim set a $30.00 price target on Gentex in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.81.

Gentex Stock Down 0.7 %

Gentex stock opened at $23.91 on Friday. Gentex Co. has a 12-month low of $23.50 and a 12-month high of $36.46. The business’s 50-day moving average price is $25.53 and its two-hundred day moving average price is $28.26. The stock has a market cap of $5.43 billion, a PE ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is 27.27%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.