Traders Sell Shares of General Motors Company (GM) on Strength (GM)
Traders sold shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on strength during trading hours on Thursday. $67.68 million flowed into the stock on the tick-up and $114.80 million flowed out of the stock on the tick-down, for a money net flow of $47.12 million out of the stock. Of all stocks tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.72 for the day and closed at $36.54
GM has been the topic of a number of recent research reports. BidaskClub raised General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Royal Bank Of Canada reissued a “hold” rating and set a $37.00 price objective on shares of General Motors in a report on Friday, July 14th. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective on the stock. in a report on Monday, July 17th. Finally, CLSA began coverage on General Motors in a report on Wednesday, June 21st. They set a “hold” rating and a $37.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.26.
The company has a market cap of $54.44 billion, a price-to-earnings ratio of 6.50 and a beta of 1.44. The stock has a 50-day moving average of $35.62 and a 200-day moving average of $35.08. General Motors also was the target of some unusual options trading on Thursday. Stock investors purchased 18,419 call options on the company. This represents an increase of 188% compared to the average volume of 6,405 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.07%. General Motors’s dividend payout ratio is 26.48%.
In other news, Director Jane L. Mendillo acquired 1,440 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $34.86 per share, with a total value of $50,198.40. Following the completion of the purchase, the director now directly owns 4,560 shares in the company, valued at $158,961.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $36.00, for a total value of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares in the company, valued at approximately $8,494,308. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 330,673 shares of company stock worth $11,590,746. Insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dowling & Yahnke LLC boosted its position in shares of General Motors by 9.8% in the first quarter. Dowling & Yahnke LLC now owns 18,220 shares of the auto manufacturer’s stock valued at $644,000 after buying an additional 1,625 shares during the period. Conning Inc. raised its stake in General Motors by 6.7% in the first quarter. Conning Inc. now owns 34,100 shares of the auto manufacturer’s stock worth $1,206,000 after buying an additional 2,150 shares in the last quarter. Pegasus Partners Ltd. raised its stake in General Motors by 1.9% in the first quarter. Pegasus Partners Ltd. now owns 21,936 shares of the auto manufacturer’s stock worth $776,000 after buying an additional 405 shares in the last quarter. WealthTrust Axiom LLC raised its stake in General Motors by 7.0% in the first quarter. WealthTrust Axiom LLC now owns 21,490 shares of the auto manufacturer’s stock worth $759,000 after buying an additional 1,400 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its stake in General Motors by 47.4% in the first quarter. Capital Advisors Inc. OK now owns 464,560 shares of the auto manufacturer’s stock worth $16,427,000 after buying an additional 149,406 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.
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General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.