Burgundy Asset Management LTD Trimmed Gentex Corp. (GNTX) Stake by $8.22 Million as Market Valuation Declined

September 30, 2018 - By Richard Slagle

Gentex Corporation (NASDAQ:GNTX) LogoInvestors sentiment increased to 1.07 in Q2 2018. Its up 0.24, from 0.83 in 2018Q1. It is positive, as 29 investors sold GNTX shares while 140 reduced holdings. 52 funds opened positions while 128 raised stakes. 221.53 million shares or 0.70% more from 219.99 million shares in 2018Q1 were reported. First Pacific Advsrs Lc, a California-based fund reported 655,427 shares. Wealthtrust, Alabama-based fund reported 840 shares. State Board Of Administration Of Florida Retirement Systems invested in 0.03% or 434,916 shares. Oppenheimer Incorporated has invested 0.01% in Gentex Corporation (NASDAQ:GNTX). Zebra Cap Management Limited Liability Corporation holds 0.38% or 38,266 shares. Sei Invests Com, Pennsylvania-based fund reported 429,886 shares. Castleark Management Ltd Liability Corporation accumulated 105,300 shares. Fairpointe Cap Llc owns 4.63M shares for 2.48% of their portfolio. The Texas-based Employees Retirement Of Texas has invested 0.07% in Gentex Corporation (NASDAQ:GNTX). Millennium Mngmt Ltd holds 2.44M shares or 0.07% of its portfolio. 360 are owned by First Mercantile Trust Company. Aperio Gp Ltd has invested 0.01% of its portfolio in Gentex Corporation (NASDAQ:GNTX). Proshare Advsr accumulated 24,471 shares or 0% of the stock. Moreover, Sterling Capital Lc has 0.98% invested in Gentex Corporation (NASDAQ:GNTX) for 4.55 million shares. Northern Tru Corporation owns 2.34M shares or 0.01% of their US portfolio.

Since May 2, 2018, it had 0 insider purchases, and 2 insider sales for $216,680 activity. $91,665 worth of stock was sold by SOTOK FREDERICK A on Wednesday, May 2.

Burgundy Asset Management Ltd decreased its stake in Gentex Corp. (GNTX) by 3.22% based on its latest 2018Q2 regulatory filing with the SEC. Burgundy Asset Management Ltd sold 357,229 shares as the company’s stock declined 7.85% while stock markets rallied. The institutional investor held 10.75M shares of the o.e.m. company at the end of 2018Q2, valued at $247.50M, down from 11.11M at the end of the previous reported quarter. Burgundy Asset Management Ltd who had been investing in Gentex Corp. for a number of months, seems to be less bullish one the $5.77 billion market cap company. The stock increased 0.80% or $0.17 during the last trading session, reaching $21.46. About 1.74 million shares traded. Gentex Corporation (NASDAQ:GNTX) has risen 22.24% since September 30, 2017 and is uptrending. It has outperformed by 6.62% the S&P500.

Burgundy Asset Management Ltd, which manages about $19.85 billion and $10.33B US Long portfolio, upped its stake in Allison Transmission Holdings Inc. (NYSE:ALSN) by 159,369 shares to 5.47M shares, valued at $221.29M in 2018Q2, according to the filing. It also increased its holding in Walgreens Boots Alliance Inc. by 986,275 shares in the quarter, for a total of 7.16 million shares, and has risen its stake in Autozone Inc. (NYSE:AZO).

Analysts await Gentex Corporation (NASDAQ:GNTX) to report earnings on October, 19. They expect $0.42 earnings per share, up 35.48 % or $0.11 from last year’s $0.31 per share. GNTX’s profit will be $112.95 million for 12.77 P/E if the $0.42 EPS becomes a reality. After $0.40 actual earnings per share reported by Gentex Corporation for the previous quarter, Wall Street now forecasts 5.00 % EPS growth.

More news for Gentex Corporation (NASDAQ:GNTX) were recently published by: Seekingalpha.com, which released: “Gentex reorganizes to support expanding product portfolio” on September 17, 2018. Nasdaq.com‘s article titled: “Gentex Announces Additions to Leadership Team; Reorganizes to Support Expanding Product Portfolio and Target …” and published on September 17, 2018 is yet another important article.

Gentex Corporation (NASDAQ:GNTX) Ratings Coverage

Among 3 analysts covering Gentex (NASDAQ:GNTX), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Gentex had 3 analyst reports since April 20, 2018 according to SRatingsIntel. JP Morgan maintained Gentex Corporation (NASDAQ:GNTX) on Tuesday, April 24 with “Neutral” rating. The company was maintained on Sunday, April 22 by Susquehanna.

Gentex Corporation (NASDAQ:GNTX) Institutional Positions Chart

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