General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 29,650,000 shares, a decline of 9.5% from the October 15th total of 32,760,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 12,470,000 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 653,511 shares of company stock valued at $35,012,844. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the second quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in General Motors in the third quarter valued at approximately $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter valued at $28,000. Finally, Fortitude Family Office LLC boosted 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 worth $29,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

GM has been the topic of a number of recent research reports. Sanford C. Bernstein lifted their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Finally, Barclays lifted their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Stock Performance

Shares of NYSE GM traded down $0.65 during midday trading on Tuesday, hitting $55.60. The company’s stock had a trading volume of 7,409,390 shares, compared to its average volume of 14,864,648. The firm has a market capitalization of $61.14 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. 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 stock has a fifty day moving average price of $49.90 and a 200 day moving average price of $47.40. General Motors has a one year low of $27.70 and a one year high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period last year, the business earned $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. On average, research analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.