General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the target of a significant decrease in short interest in the month of 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 days-to-cover ratio is currently 2.2 days. Currently, 2.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms have issued reports on GM. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus price target of $55.35.

Insider Transactions at General Motors

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the business’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 transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of hedge funds have recently made changes to their positions in GM. V Square Quantitative Management LLC raised its stake in shares of General Motors by 15.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 42,838 shares of the auto manufacturer’s stock valued at $1,921,000 after acquiring an additional 5,885 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of General Motors by 2.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 145,059 shares of the auto manufacturer’s stock valued at $6,504,000 after acquiring an additional 3,176 shares during the period. Bleakley Financial Group LLC raised its stake in shares of General Motors by 2.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 18,026 shares of the auto manufacturer’s stock valued at $808,000 after acquiring an additional 449 shares during the period. nVerses Capital LLC purchased a new stake in General Motors during the 3rd quarter worth $381,000. Finally, ZWJ Investment Counsel Inc. increased its stake in General Motors by 2.1% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 388,617 shares of the auto manufacturer’s stock worth $17,426,000 after buying an additional 7,980 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 0.8 %

Shares of GM traded up $0.37 on Thursday, hitting $49.38. 8,332,629 shares of the stock traded hands, compared to its average volume of 15,090,878. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock’s 50 day moving average is $46.76 and its two-hundred day moving average is $45.87. The firm 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. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the business earned $1.91 earnings per share. General Motors’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

About General Motors

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.