Traders Sell General Motors Co. (GM) on Strength (GM)
Investors sold shares of General Motors Co. (NYSE:GM) on strength during trading hours on Thursday. $59.95 million flowed into the stock on the tick-up and $81.64 million flowed out of the stock on the tick-down, for a money net flow of $21.69 million out of the stock. Of all equities tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.50 for the day and closed at $31.75
A number of research firms recently issued reports on GM. Goldman Sachs Group Inc. reiterated a “hold” rating on shares of General Motors in a research report on Saturday, April 23rd. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $32.30 price target for the company. in a research report on Wednesday, May 25th. Buckingham Research restated a “neutral” rating on shares of General Motors in a research report on Thursday, May 5th. Stifel Nicolaus restated a “hold” rating on shares of General Motors in a research report on Thursday, April 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of General Motors in a research report on Saturday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $35.60.
The company’s 50 day moving average is $30.32 and its 200 day moving average is $30.32. The stock has a market capitalization of $49.31 billion and a P/E ratio of 4.04.
General Motors (NYSE:GM) last issued its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. The firm earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.29 earnings per share. Analysts expect that General Motors Co. will post $5.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Wednesday, September 7th.
In related news, EVP James B. Deluca sold 10,374 shares of General Motors stock in a transaction on Friday, May 27th. The shares were sold at an average price of $31.48, for a total value of $326,573.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jane L. Mendillo purchased 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the acquisition, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The disclosure for this purchase can be found here.
A number of hedge funds recently added to or reduced their stakes in the stock. Broadview Advisors LLC boosted its stake in General Motors by 28.7% in the fourth quarter. Broadview Advisors LLC now owns 43,750 shares of the auto manufacturer’s stock valued at $1,488,000 after buying an additional 9,750 shares during the period. Stephens Inc. AR boosted its stake in General Motors by 13.7% in the fourth quarter. Stephens Inc. AR now owns 58,192 shares of the auto manufacturer’s stock valued at $1,979,000 after buying an additional 7,005 shares during the period. Advisors Asset Management Inc. boosted its stake in General Motors by 16.3% in the fourth quarter. Advisors Asset Management Inc. now owns 64,236 shares of the auto manufacturer’s stock valued at $2,185,000 after buying an additional 9,008 shares during the period. Hodges Capital Management Inc. boosted its stake in General Motors by 12.7% in the fourth quarter. Hodges Capital Management Inc. now owns 72,885 shares of the auto manufacturer’s stock valued at $2,479,000 after buying an additional 8,200 shares during the period. Finally, Marshall Wace LLP bought a new stake in General Motors during the fourth quarter valued at $2,849,000.
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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