General Motors (NYSE:GM) Short Interest Down 10.1% in September

by · The Cerbat Gem

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 30,670,000 shares, a decrease of 10.1% from the September 15th total of 34,110,000 shares. Based on an average trading volume of 13,950,000 shares, the short-interest ratio is currently 2.2 days. Currently, 2.7% of the shares of the company are short sold.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC grew its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new position in General Motors during the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter valued at $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 0.8 %

Shares of GM stock traded up $0.37 during mid-day trading on Thursday, reaching $49.38. 8,051,721 shares of the company were exchanged, compared to its average volume of 15,090,878. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The business’s 50 day simple moving average is $46.89 and its 200 day simple moving average is $45.90. The company has a market capitalization of $56.34 billion, a P/E ratio of 6.04, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 EPS. Research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GM shares. Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a report on Monday, September 23rd. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, October 9th. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.35.

Check Out Our Latest Report on GM

General Motors Company Profile

(Get Free Report)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.

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