Lord Abbett & CO. LLC Sells 72,579 Shares of Gentherm Incorporated (NASDAQ:THRM)

Lord Abbett & CO. LLC cut its stake in shares of Gentherm Incorporated (NASDAQ:THRM - Free Report) by 12.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 508,394 shares of the auto parts company's stock after selling 72,579 shares during the period. Lord Abbett & CO. LLC owned approximately 1.64% of Gentherm worth $23,666,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of THRM. Van Berkom & Associates Inc. grew its stake in Gentherm by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,364,291 shares of the auto parts company's stock valued at $67,287,000 after acquiring an additional 20,371 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its stake in shares of Gentherm by 2.0% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,169,671 shares of the auto parts company's stock valued at $54,448,000 after buying an additional 23,051 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Gentherm by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,146,375 shares of the auto parts company's stock valued at $56,539,000 after acquiring an additional 37,365 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Gentherm by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 951,798 shares of the auto parts company's stock valued at $46,943,000 after purchasing an additional 10,402 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its stake in Gentherm by 22.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 632,673 shares of the auto parts company's stock valued at $29,451,000 after purchasing an additional 116,500 shares in the last quarter. 97.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Thomas Stocker sold 1,295 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $42.98, for a total transaction of $55,659.10. Following the sale, the senior vice president now owns 13,413 shares in the company, valued at approximately $576,490.74. This represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phillip Eyler sold 4,402 shares of the company's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $50.20, for a total transaction of $220,980.40. Following the transaction, the chief executive officer now owns 147,317 shares in the company, valued at approximately $7,395,313.40. This trade represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,197 shares of company stock worth $381,640 over the last quarter. Company insiders own 1.91% of the company's stock.

Gentherm Stock Performance

NASDAQ:THRM traded down $1.59 during trading hours on Monday, hitting $40.15. 225,161 shares of the company traded hands, compared to its average volume of 188,455. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $42.40 and a 200 day moving average of $47.27. Gentherm Incorporated has a twelve month low of $39.84 and a twelve month high of $62.93. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 18.79 and a beta of 1.42.

Gentherm (NASDAQ:THRM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Gentherm had a net margin of 4.61% and a return on equity of 14.36%. The firm had revenue of $371.50 million for the quarter, compared to the consensus estimate of $372.89 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business's revenue was up 1.4% compared to the same quarter last year. On average, analysts forecast that Gentherm Incorporated will post 2.71 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Gentherm from an "underweight" rating to a "neutral" rating and set a $56.00 price objective on the stock in a research report on Monday, October 21st. Robert W. Baird decreased their price target on Gentherm from $54.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Finally, Craig Hallum lowered their price target on Gentherm from $85.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, October 31st.

Gentherm 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.