General Motors Company (GM) Sees Significant Growth in Short Interest
General Motors Company (NYSE:GM) (TSE:GMM.U) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 37,472,356 shares, a growth of 13.8% from the July 14th total of 32,934,937 shares. Based on an average daily volume of 10,332,415 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.8% of the company’s shares are sold short.
In related news, insider Karl-Thomas Neumann sold 46,472 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total value of $1,526,140.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $36.00, for a total value of $1,440,000.00. Following the completion of the transaction, the president now owns 235,953 shares of the company’s stock, valued at $8,494,308. The disclosure for this sale can be found here. Insiders sold 369,001 shares of company stock valued at $12,827,204 over the last quarter. Insiders own 0.04% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Berkshire Hathaway Inc. increased its stake in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of General Motors by 290.9% in the second quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after buying an additional 7,625,809 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after buying an additional 3,560,717 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares in the last quarter. 75.56% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the company. BidaskClub upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $37.42 price target for the company. in a research note on Monday, July 17th. Zacks Investment Research lowered General Motors from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price target on shares of General Motors in a research note on Friday, July 14th. Finally, ValuEngine upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $39.26.
General Motors (GM) opened at 35.75 on Thursday. General Motors has a one year low of $30.13 and a one year high of $38.55. The company has a 50-day moving average price of $35.48 and a 200-day moving average price of $35.09. The stock has a market cap of $52.10 billion, a P/E ratio of 6.22 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. On average, analysts anticipate that General Motors will post $6.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
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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