Gentherm Inc (NASDAQ:THRM), a leader in thermal management technologies, has reported a series of transactions by its President & CEO, Eyler Phillip, according to a recent SEC filing. On June 5, 2024, Phillip executed sales of company common stock totaling over $810,000.
The transactions included the sale of 8,083 shares at a weighted average price of $53.81, with individual sale prices ranging from $53.16 to $54.16. Additionally, another set of 6,917 shares were sold at an average of $54.3, with a price range between $54.20 to $54.45. These sales were conducted under a Rule 10b5-1 trading plan, which was previously adopted on December 5, 2023.
On the same day, Phillip also acquired 15,000 shares of Gentherm common stock at a price of $35.5 per share, amounting to a total of $532,500. This transaction was related to the exercise of stock options that were set to expire on December 4, 2024. These options were fully vested and part of a grant made back in December 2017.
Following these transactions, CEO Eyler Phillip's ownership in Gentherm has been adjusted, as reflected in the post-transaction amounts listed in the SEC filing. The reported sales and acquisitions are part of the regular disclosure of stock transactions by company executives, providing transparency to investors and the market.
Investors and followers of Gentherm Inc can continue to monitor such filings to stay informed about the trading activities of the company's insiders.
In other recent news, Gentherm, a global leader in thermal management solutions, has made several significant strides in its operations. The company reported a robust first quarter in 2024, securing nearly $530 million in new automotive business awards, showing a year-over-year improvement in gross margin rate due to cost reductions and increased productivity. Gentherm's partnership with General Motors (NYSE:GM) was recognized with the Automotive News PACE Innovation Partnership Award.
Furthermore, Gentherm announced the authorization of a new $150 million stock repurchase program, reflecting the Board of Directors' confidence in the company's future performance and its ability to generate robust cash flow. The exact number of shares to be repurchased and the timing of these repurchases will be at the discretion of Gentherm's management.
In addition, Gentherm secured a production vehicle contract for its Puls.A technology with Hyundai (OTC:HYMTF) for an upcoming Genesis full-size SUV. This novel pneumatic massage technology aims to enhance health and wellness for vehicle occupants.
Roth/MKM analysts maintain a positive outlook for Gentherm, keeping estimates steady for 2024 and 2025, highlighting the company's strong bookings and competitive edge despite challenges from competitors. These recent developments underscore Gentherm's ongoing performance and its ability to maintain a competitive edge in its market.
InvestingPro Insights
Amid the recent insider trading activity at Gentherm Inc (NASDAQ:THRM), investors are keen to understand the financial health and future prospects of the company. According to InvestingPro data, Gentherm currently has a market capitalization of approximately $1.7 billion. The company has been trading at a P/E ratio of 36.88, which adjusts to a lower 24.65 when considering the last twelve months as of Q1 2024, reflecting its near-term earnings growth potential. This is further evidenced by a PEG ratio of just 0.28 for the same period, suggesting that the stock may be undervalued relative to its earnings growth.
Despite a quarterly revenue decline of 2.09% in Q1 2024, Gentherm has shown a solid revenue growth of 12.37% over the last twelve months as of Q1 2024. This demonstrates the company's capacity to expand its financial base year over year. Additionally, Gentherm's liquid assets have been reported to exceed its short-term obligations, indicating a strong liquidity position.
When considering InvestingPro Tips, it's noteworthy that analysts have revised their earnings estimates downwards for the upcoming period, which may need to be factored into investment decisions. However, they also predict the company will remain profitable this year, a continuation of its profitability over the last twelve months. Gentherm does not pay a dividend, suggesting that it is reinvesting its earnings back into the company to fuel future growth. The company also operates with a moderate level of debt, which is an important consideration for risk assessment.
To gain deeper insights into Gentherm's financials and for additional InvestingPro Tips, investors can explore the full range of analytics available. There are currently 5 more InvestingPro Tips listed for Gentherm on the platform. For those interested in a comprehensive analysis, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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