Lazard Asset Management LLC Sells 177,328 Shares of Gentherm Incorporated (NASDAQ:THRM)

Lazard Asset Management LLC cut its holdings in shares of Gentherm Incorporated (NASDAQ:THRM) by 61.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,604 shares of the auto parts company’s stock after selling 177,328 shares during the period. Lazard Asset Management LLC owned approximately 0.35% of Gentherm worth $6,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Gentherm by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 412,338 shares of the auto parts company’s stock worth $21,590,000 after acquiring an additional 20,600 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in shares of Gentherm by 9.7% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 320,173 shares of the auto parts company’s stock valued at $16,764,000 after purchasing an additional 28,200 shares during the period. Mairs & Power Inc. raised its stake in shares of Gentherm by 9.3% in the 4th quarter. Mairs & Power Inc. now owns 395,006 shares of the auto parts company’s stock valued at $20,683,000 after purchasing an additional 33,570 shares during the period. Granahan Investment Management LLC raised its stake in shares of Gentherm by 61.2% in the 4th quarter. Granahan Investment Management LLC now owns 412,971 shares of the auto parts company’s stock valued at $21,623,000 after purchasing an additional 156,842 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Gentherm in the 1st quarter valued at about $1,089,000. 97.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Gentherm news, CEO Phillip Eyler sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $51.47, for a total transaction of $772,050.00. Following the transaction, the chief executive officer now owns 147,317 shares of the company’s stock, valued at $7,582,405.99. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 45,000 shares of company stock valued at $2,338,650 over the last 90 days. 1.91% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Robert W. Baird dropped their price target on Gentherm from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. JPMorgan Chase & Co. lowered their target price on Gentherm from $60.00 to $56.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.50.

Gentherm Price Performance

NASDAQ:THRM opened at $51.03 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.10. The stock’s 50-day simple moving average is $50.90 and its 200 day simple moving average is $51.72. The company has a market cap of $1.62 billion, a P/E ratio of 34.97 and a beta of 1.46. Gentherm Incorporated has a 52-week low of $38.21 and a 52-week high of $66.54.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings results on Tuesday, April 30th. The auto parts company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.19. The firm had revenue of $356.00 million for the quarter, compared to the consensus estimate of $361.11 million. Gentherm had a return on equity of 13.56% and a net margin of 3.23%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, sell-side analysts forecast that Gentherm Incorporated will post 2.94 EPS for the current fiscal year.

Gentherm Company 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.