Traders Sell General Motors Company (GM) on Strength After Insider Selling

Traders sold shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on strength during trading on Wednesday following insider selling activity. $57.74 million flowed into the stock on the tick-up and $198.02 million flowed out of the stock on the tick-down, for a money net flow of $140.28 million out of the stock. Of all companies tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.26 for the day and closed at $45.47Specifically, Director Patricia F. Russo bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the purchase, the director now owns 12,300 shares in the company, valued at approximately $427,179. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alan S. Batey sold 8,144 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the transaction, the insider now owns 66,748 shares in the company, valued at approximately $2,374,226.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 852,901 shares of company stock worth $32,378,733. Insiders own 0.04% of the company’s stock.

GM has been the subject of several research reports. Piper Jaffray Companies reissued a “buy” rating and set a $44.00 price objective on shares of General Motors in a report on Tuesday, September 12th. 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. Buckingham Research reissued a “neutral” rating and set a $33.00 price objective on shares of General Motors in a report on Friday, September 8th. Instinet reissued a “buy” rating and set a $43.00 price objective on shares of General Motors in a report on Tuesday, October 3rd. Finally, Bank of America Corporation raised shares of General Motors from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $57.00 in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. General Motors has a consensus rating of “Buy” and a consensus target price of $41.83.

The stock has a 50 day moving average price of $39.65 and a 200 day moving average price of $35.83. The stock has a market capitalization of $65.41 billion, a PE ratio of 7.80 and a beta of 1.45.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. Equities analysts anticipate that General Motors Company will post $6.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is 26.48%.

Several large investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its holdings in General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new stake in General Motors in the 1st quarter worth $106,000. FNY Managed Accounts LLC purchased a new stake in General Motors in the 1st quarter worth $107,000. State of Alaska Department of Revenue increased its holdings in General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after acquiring an additional 310 shares in the last quarter. Finally, Ffcm LLC increased its holdings in General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after acquiring an additional 3,213 shares in the last quarter. 72.22% of the stock is owned by hedge funds and other institutional investors.

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About General Motors

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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