General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 32,760,000 shares, an increase of 6.8% from the September 30th total of 30,670,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 13,670,000 shares, the short-interest ratio is currently 2.4 days.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock worth $28,267,714 in the last 90 days. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC boosted its stake in shares of General Motors by 56.1% in the 2nd 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 in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors during the 1st quarter worth about $30,000. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.9 %

Shares of GM traded up $0.48 during midday trading on Friday, hitting $51.24. The stock had a trading volume of 7,962,817 shares, compared to its average volume of 15,017,058. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a market cap of $56.34 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The business has a 50-day simple moving average of $48.26 and a two-hundred day simple moving average of $46.40. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 earnings per share. As a group, equities analysts forecast that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is 5.12%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GM. Barclays raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura lowered 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 report on Monday, August 5th. Finally, Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Company 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.