General Motors Company (GM) Short Interest Up 14.7% in August
General Motors Company (NYSE:GM) (TSE:GMM.U) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 44,059,103 shares, an increase of 14.7% from the August 15th total of 38,426,459 shares. Based on an average daily trading volume, of 7,306,892 shares, the short-interest ratio is currently 6.0 days. Approximately 3.3% of the shares of the company are sold short.
A number of research firms have recently weighed in on GM. Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 price objective (up from $40.00) on shares of General Motors in a research report on Thursday. Wolfe Research began coverage on General Motors in a research report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price objective on the stock. BidaskClub cut General Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Vetr raised General Motors from a “hold” rating to a “buy” rating and set a $37.42 price target on the stock in a report on Monday, July 24th. Finally, CLSA started coverage on General Motors in a report on Wednesday, June 21st. They issued a “hold” rating and a $37.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. General Motors has an average rating of “Buy” and an average price target of $39.11.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the transaction, the insider now directly owns 234,274 shares of the company’s stock, valued at approximately $8,145,706.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas S. Timko sold 17,255 shares of General Motors stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares in the company, valued at $934,119. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 614,947 shares of company stock worth $22,402,528. Insiders own 0.04% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC lifted its position in General Motors by 43.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after buying an additional 860 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new position in General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC purchased a new position in General Motors during the first quarter worth approximately $107,000. State of Alaska Department of Revenue lifted its position in General Motors by 10.5% during the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after buying an additional 310 shares in the last quarter. Finally, Ffcm LLC lifted its position in General Motors by 2,008.1% during the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after buying an additional 3,213 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
General Motors (NYSE GM) opened at 39.10 on Friday. The stock’s 50 day moving average price is $36.19 and its 200 day moving average price is $35.09. The company has a market cap of $56.98 billion, a P/E ratio of 6.80 and a beta of 1.44. General Motors has a 52-week low of $30.21 and a 52-week high of $39.24.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter last year, the business posted $1.86 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that General Motors will post $6.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.91%. General Motors’s payout ratio is 26.48%.
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.
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