Investors Buy General Motors Company (GM) on Weakness on Insider Selling
Investors bought shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on weakness during trading hours on Monday after an insider sold shares in the company. $166.06 million flowed into the stock on the tick-up and $51.04 million flowed out of the stock on the tick-down, for a money net flow of $115.02 million into the stock. Of all companies tracked, General Motors had the 6th highest net in-flow for the day. General Motors traded down ($0.29) for the day and closed at $38.59Specifically, insider Alan S. Batey sold 8,144 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total transaction of $289,682.08. Following the completion of the sale, the insider now owns 66,748 shares of the company’s stock, valued at approximately $2,374,226.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia F. Russo purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average cost of $34.73 per share, with a total value of $347,300.00. Following the transaction, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders have sold a total of 614,947 shares of company stock valued at $22,402,528 in the last three months. 0.04% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on GM shares. Buckingham Research reissued a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Vetr raised shares of General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Berenberg Bank reissued a “sell” rating and set a $31.00 price target on shares of General Motors in a research report on Tuesday, June 13th. Wolfe Research started coverage on shares of General Motors in a research report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price target for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $36.00 price target on shares of General Motors in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. General Motors has a consensus rating of “Buy” and an average price target of $38.97.
The stock has a market capitalization of $56.23 billion, a price-to-earnings ratio of 6.71 and a beta of 1.44. The firm’s 50 day moving average price is $36.12 and its 200-day moving average price is $35.08.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts predict that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
A number of large investors have recently added to or reduced their stakes in the stock. W. E. Donoghue & Co. LLC bought a new position in General Motors in the second quarter worth about $16,341,000. Intl Fcstone Inc. bought a new position in General Motors in the second quarter worth about $259,000. Paradigm Financial Advisors LLC raised its holdings in General Motors by 11.3% in the second quarter. Paradigm Financial Advisors LLC now owns 7,462 shares of the auto manufacturer’s stock worth $261,000 after purchasing an additional 755 shares in the last quarter. WFG Advisors LP raised its holdings in General Motors by 1,275.5% in the second quarter. WFG Advisors LP now owns 11,884 shares of the auto manufacturer’s stock worth $415,000 after purchasing an additional 11,020 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in General Motors by 7.2% in the second quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock worth $602,000 after purchasing an additional 1,176 shares in the last quarter. 72.21% of the stock is owned by 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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