MQS Management LLC Buys Shares of 17,076 Gentex Co. (NASDAQ:GNTX)

MQS Management LLC bought a new stake in Gentex Co. (NASDAQ:GNTX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,076 shares of the auto parts company’s stock, valued at approximately $507,000.

Several other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Gentex in the second quarter valued at about $31,000. Gladius Capital Management LP purchased a new position in Gentex during the second quarter worth $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in Gentex during the 2nd quarter worth about $67,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. B. Riley lowered their price target on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. UBS Group began coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Tuesday, July 30th. Finally, Robert W. Baird upped their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

Gentex Trading Up 0.9 %

NASDAQ:GNTX opened at $30.64 on Thursday. Gentex Co. has a twelve month low of $28.30 and a twelve month high of $37.58. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.98 and a beta of 0.91. The firm’s fifty day simple moving average is $29.87 and its 200 day simple moving average is $31.86.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. Gentex’s payout ratio is currently 25.67%.

Gentex 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.