Investors Buy General Motors (GM) on Weakness After Insider Selling
Traders purchased shares of General Motors (NYSE:GM) (TSE:GMM.U) on weakness during trading hours on Friday following insider selling activity. $148.06 million flowed into the stock on the tick-up and $84.18 million flowed out of the stock on the tick-down, for a money net flow of $63.88 million into the stock. Of all companies tracked, General Motors had the 18th highest net in-flow for the day. General Motors traded down ($0.71) for the day and closed at $43.15Specifically, CFO Charles K. Stevens III sold 265,458 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $44.49, for a total value of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares in the company, valued at $2,569,095. The disclosure for this sale can be found here. Insiders sold a total of 602,741 shares of company stock worth $26,678,072 over the last 90 days. 0.04% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on GM. Zacks Investment Research upgraded General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Piper Jaffray Companies set a $44.00 price objective on General Motors and gave the stock a “buy” rating in a research note on Monday, October 16th. Citigroup reaffirmed a “buy” rating and set a $53.00 price objective on shares of General Motors in a research note on Monday, October 2nd. Evercore ISI raised their price objective on General Motors from $40.00 to $41.38 in a research note on Friday, December 29th. Finally, Deutsche Bank raised General Motors from a “hold” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $51.00 in a research note on Monday, September 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. General Motors presently has an average rating of “Hold” and an average target price of $44.07.
The stock has a market cap of $61,290.00, a P/E ratio of 9.34, a PEG ratio of 0.81 and a beta of 1.55. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc. raised its stake in shares of General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Capital World Investors raised its stake in shares of General Motors by 5.0% in the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after purchasing an additional 331,621 shares during the period. Janus Henderson Group PLC raised its stake in shares of General Motors by 5.5% in the 3rd quarter. Janus Henderson Group PLC now owns 10,815,151 shares of the auto manufacturer’s stock valued at $436,729,000 after purchasing an additional 567,980 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of General Motors by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 7,828,786 shares of the auto manufacturer’s stock valued at $316,139,000 after purchasing an additional 56,115 shares during the period. 73.02% of the stock is currently owned by hedge funds and other 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.
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