Traders 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 Wednesday after an insider sold shares in the company. $109.13 million flowed into the stock on the tick-up and $65.99 million flowed out of the stock on the tick-down, for a money net flow of $43.14 million into the stock. Of all equities tracked, General Motors had the 15th highest net in-flow for the day. General Motors traded down ($0.65) for the day and closed at $42.15Specifically, President Daniel Ammann sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.00, for a total value of $1,900,000.00. Following the sale, the president now owns 185,953 shares of the company’s stock, valued at $7,066,214. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the sale, the insider now directly owns 67,548 shares in the company, valued at approximately $2,569,525.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,021,565 shares of company stock valued at $42,801,037. Insiders own 0.04% of the company’s stock.

GM has been the topic of several analyst reports. Instinet reaffirmed a “buy” rating and issued a $43.00 target price on shares of General Motors in a report on Tuesday, October 3rd. Bank of America raised shares of General Motors from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $57.00 in a report on Tuesday, October 3rd. Deutsche Bank reaffirmed a “buy” rating and issued a $51.00 target price on shares of General Motors in a report on Monday, October 2nd. Citigroup reaffirmed a “buy” rating and issued a $53.00 target price on shares of General Motors in a report on Monday, October 2nd. Finally, BidaskClub raised shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. General Motors presently has a consensus rating of “Hold” and an average price target of $43.70.

The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The firm has a market capitalization of $61,148.57, a price-to-earnings ratio of 6.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.54.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. research analysts forecast that General Motors will post 6.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. General Motors’s payout ratio is currently 77.95%.

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its position in shares of 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 acquiring an additional 310 shares during the last quarter. Eads & Heald Investment Counsel grew its position in shares of General Motors by 2.9% during the second quarter. Eads & Heald Investment Counsel now owns 5,910 shares of the auto manufacturer’s stock worth $206,000 after acquiring an additional 165 shares during the last quarter. ARP Americas LLC purchased a new position in shares of General Motors during the second quarter worth approximately $203,000. Retirement Systems of Alabama grew its position in shares of General Motors by 12.9% during the second quarter. Retirement Systems of Alabama now owns 1,625,827 shares of the auto manufacturer’s stock worth $56,790,000 after acquiring an additional 185,605 shares during the last quarter. Finally, Palladium Partners LLC grew its position in shares of General Motors by 5.6% during the second quarter. Palladium Partners LLC now owns 12,545 shares of the auto manufacturer’s stock worth $438,000 after acquiring an additional 669 shares during the last quarter. 73.06% 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.

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