Magnetar Financial LLC Acquires New Shares in Gentex Corporation $GNTX

Magnetar Financial LLC purchased a new position in Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 203,025 shares of the auto parts company’s stock, valued at approximately $4,465,000. Magnetar Financial LLC owned 0.09% of Gentex at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GNTX. Addison Advisors LLC purchased a new stake in shares of Gentex in the second quarter valued at $25,000. Brooklyn Investment Group increased its holdings in Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 917 shares during the period. State of Wyoming bought a new stake in shares of Gentex in the first quarter valued at about $45,000. Steph & Co. bought a new stake in shares of Gentex in the 2nd quarter valued at about $45,000. Finally, UMB Bank n.a. lifted its holdings in Gentex by 34.4% during the second quarter. UMB Bank n.a. now owns 2,854 shares of the auto parts company’s stock worth $63,000 after buying an additional 730 shares during the period. 86.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Zacks Research cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. UBS Group reaffirmed a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. Finally, Robert W. Baird set a $29.00 price objective on shares of Gentex in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.29.

Gentex Stock Up 2.7%

Gentex stock opened at $22.42 on Friday. The business’s 50-day moving average price is $25.60 and its 200 day moving average price is $24.77. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 13.19 and a beta of 0.86. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.41.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The firm had revenue of $570.32 million for the quarter, compared to analysts’ expectations of $661.10 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities analysts expect that Gentex Corporation will post 2.04 EPS for the current year.

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.