General Motors Co. (NYSE:GM) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 46,314,782 shares, an increase of 25.0% from the September 15th total of 37,038,511 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily volume of 13,657,968 shares, the days-to-cover ratio is presently 3.4 days.
Several equities analysts have recently issued reports on the company. Vetr raised General Motors from a “buy” rating to a “strong-buy” rating and set a $35.06 price objective for the company in a report on Monday, September 12th. Robert W. Baird reissued a “neutral” rating and issued a $25.00 price objective on shares of General Motors in a report on Monday, June 20th. Citigroup Inc. reissued a “buy” rating and issued a $50.00 price objective on shares of General Motors in a report on Thursday, July 21st. Goldman Sachs Group Inc. cut General Motors to a “neutral” rating and decreased their price objective for the company from $37.00 to $29.00 in a report on Thursday, October 6th. Finally, Zacks Investment Research cut General Motors from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $36.67.
General Motors (NYSE:GM) opened at 31.87 on Friday. General Motors has a 12 month low of $26.69 and a 12 month high of $36.88. The stock has a market capitalization of $49.78 billion, a price-to-earnings ratio of 4.08 and a beta of 1.65. The company has a 50-day moving average price of $31.75 and a 200 day moving average price of $30.89.
General Motors (NYSE:GM) last posted its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The company earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period last year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts predict that General Motors will post $5.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.77%. General Motors’s payout ratio is 19.46%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the sale, the vice president now owns 27,477 shares in the company, valued at approximately $877,615.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jane L. Mendillo purchased 1,600 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the purchase, the director now owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.
Several large investors have recently bought and sold shares of GM. North Star Investment Management Corp. increased its stake in General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock worth $130,000 after buying an additional 4,096 shares during the last quarter. AllSquare Wealth Management LLC increased its stake in General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock worth $130,000 after buying an additional 650 shares during the last quarter. Chou Associates Management Inc. bought a new stake in General Motors during the second quarter worth about $136,000. Daiwa SB Investments Ltd. bought a new stake in General Motors during the third quarter worth about $200,000. Finally, Mariner Wealth Advisors LLC increased its stake in General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock worth $206,000 after buying an additional 20 shares during the last quarter. Institutional investors own 70.40% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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