Calamos Advisors LLC Sells 9,928 Shares of General Motors (NYSE:GM)

Calamos Advisors LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 535,890 shares of the auto manufacturer’s stock after selling 9,928 shares during the period. Calamos Advisors LLC’s holdings in General Motors were worth $24,897,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GM. LifeSteps Financial Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $25,000. Fortitude Family Office LLC lifted its stake in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors in the 1st quarter worth $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of General Motors in the first quarter valued at about $32,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 4.5 %

GM stock traded up $2.11 on Friday, reaching $48.57. The company’s stock had a trading volume of 12,918,085 shares, compared to its average volume of 15,663,523. The firm has a market cap of $55.42 billion, a PE ratio of 5.94, a PEG ratio of 0.44 and a beta of 1.43. The business has a fifty day simple moving average of $45.91 and a two-hundred day simple moving average of $44.12. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion during 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%. General Motors’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. As a group, research analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,152,621 shares of company stock valued at $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

GM has been the subject of a number of research reports. UBS Group increased their target price on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

General Motors Profile

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.