General Motors Company (GM) Short Interest Update
General Motors Company (NYSE:GM) (TSE:GMM.U) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 36,780,348 shares, a decrease of 13.1% from the October 13th total of 42,307,984 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily volume of 14,584,011 shares, the short-interest ratio is presently 2.5 days.
GM has been the subject of a number of recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 target price on shares of General Motors in a report on Tuesday, September 12th. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $43.99 price target for the company. in a research note on Monday. Citigroup Inc. reissued a “buy” rating and issued a $53.00 price target on shares of General Motors in a research note on Monday, October 2nd. Berenberg Bank set a $31.00 price target on General Motors and gave the company a “sell” rating in a research note on Monday, August 14th. Finally, Standpoint Research cut General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. General Motors has a consensus rating of “Hold” and an average target price of $43.61.
General Motors (GM) opened at $42.86 on Thursday. The stock has a market capitalization of $60,880.00, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.56. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. equities analysts expect that General Motors will post 6.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 annualized dividend and a yield of 3.55%. General Motors’s payout ratio is currently 32.90%.
In other news, Director Jane L. Mendillo bought 1,440 shares of the stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $34.86 per share, with a total value of $50,198.40. Following the acquisition, the director now directly owns 4,560 shares in the company, valued at $158,961.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nysschen Carel J. De sold 123,645 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.59, for a total value of $5,513,330.55. Following the completion of the transaction, the executive vice president now directly owns 150,484 shares of the company’s stock, valued at approximately $6,710,081.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 971,122 shares of company stock valued at $40,627,952. Insiders own 0.04% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Intrust Bank NA lifted its holdings in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares in the last quarter. IFC Holdings Incorporated FL lifted its holdings in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after purchasing an additional 88 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after purchasing an additional 115 shares in the last quarter. Alpha Windward LLC lifted its holdings in shares of General Motors by 2.3% in the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock valued at $194,000 after purchasing an additional 125 shares in the last quarter. Finally, Heritage Investors Management Corp lifted its holdings in shares of General Motors by 0.3% in the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 74.51% 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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