Welch Capital Partnersny Lowers stake in Gentex Corporation (GNTX)

Gentex Corporation (GNTX) : Welch Capital Partnersny reduced its stake in Gentex Corporation by 20.94% during the most recent quarter end. The investment management company now holds a total of 468,324 shares of Gentex Corporation which is valued at $8,518,814 after selling 124,035 shares in Gentex Corporation , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Gentex Corporation makes up approximately 2.91% of Welch Capital Partnersny’s portfolio.

Other Hedge Funds, Including , Thompson Davis boosted its stake in GNTX in the latest quarter, The investment management firm added 345 additional shares and now holds a total of 27,200 shares of Gentex Corporation which is valued at $487,424. Gentex Corporation makes up approx 0.74% of Thompson Davis’s portfolio.State Treasurer State Of Michigan boosted its stake in GNTX in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 115,900 shares of Gentex Corporation which is valued at $2,010,865. Gentex Corporation makes up approx 0.02% of State Treasurer State Of Michigan’s portfolio. Capital Fund Management S.a. added GNTX to its portfolio by purchasing 205,234 company shares during the most recent quarter which is valued at $3,733,206. Gentex Corporation makes up approx 0.06% of Capital Fund Management S.a.’s portfolio.North Point Portfolio Managers Corpoh reduced its stake in GNTX by selling 16,667 shares or 2.01% in the most recent quarter. The Hedge Fund company now holds 813,839 shares of GNTX which is valued at $14,803,731. Gentex Corporation makes up approx 2.83% of North Point Portfolio Managers Corpoh’s portfolio.

Gentex Corporation closed down -0.09 points or -0.50% at $17.97 with 16,01,465 shares getting traded on Wednesday. Post opening the session at $18.06, the shares hit an intraday low of $17.885 and an intraday high of $18.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Gentex Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.29. The company had revenue of $423.80 million for the quarter, compared to analysts expectations of $416.74 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry dimmable aircraft windows for the aviation industry and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business involves designing developing manufacturing and marketing interior and exterior auto-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. It also designs develops and manufactures various electronics features that are additive to the interior and exterior automotive rearview mirrors as well as interior visors and overhead consoles. The Company ships its product to all of the automotive producing regions across the world.

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