Investors Sell Shares of 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 highest net out-flow for the day. General Motors traded up $0.26 for the day and closed at $45.47Specifically, insider Karl-Thomas Neumann sold 234,274 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the transaction, the insider now directly owns 234,274 shares in the company, valued at approximately $8,145,706.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.80, for a total value of $572,800.00. Following the transaction, the insider now owns 77,052 shares in the company, valued at $2,758,461.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 852,901 shares of company stock worth $32,378,733. 0.04% of the stock is currently owned by insiders.
Several analysts have recently commented on GM shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $44.00 price target on shares of General Motors in a research report on Tuesday, September 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $37.00 target price on shares of General Motors in a research report on Friday, July 14th. Buckingham Research reissued a “neutral” rating and issued a $33.00 target price on shares of General Motors in a research report on Friday, September 8th. Instinet reissued a “buy” rating and issued a $43.00 target price on shares of General Motors in a research report on Tuesday, October 3rd. Finally, Bank of America Corporation raised General Motors from a “neutral” rating to a “buy” rating and boosted their target price for the company from $40.00 to $57.00 in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors presently has an average rating of “Buy” and a consensus target price of $41.83.
The stock has a 50-day moving average of $39.09 and a 200-day moving average of $35.69. The stock has a market capitalization of $66.26 billion, a PE ratio of 7.91 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 (EPS) for the quarter, beating analysts’ consensus estimates 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%. General Motors’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 EPS. Equities analysts predict that General Motors Company will post $6.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.34%. General Motors’s payout ratio is currently 26.48%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. YorkBridge Wealth Partners LLC raised its holdings in shares of 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 purchasing an additional 860 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Motors in the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC bought a new stake in shares of General Motors in the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue raised its holdings in shares of 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 purchasing an additional 310 shares in the last quarter. Finally, Ffcm LLC raised its holdings in shares of 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 purchasing an additional 3,213 shares in the last quarter. Institutional investors and hedge funds own 72.22% of the company’s stock.
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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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