Insider Selling: Canada Gen Investment Corp Sells 30,000,000 Shares of General Motors Stock (GM)
General Motors (NYSE:GM) Insider Canada Gen Investment Corp sold 30,000,000 shares of General Motors stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $36.65, for a total value of $1,099,500,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on GM shares. Analysts at TheStreet reiterated a “buy” rating on shares of General Motors (NYSE:GM) in a research note to investors on Wednesday. Separately, analysts at Deutsche Bank raised their price target on shares of General Motors (NYSE:GM) from $44.00 to $46.00 in a research note to investors on Thursday, September 5th. They now have a “buy” rating on the stock.
Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. General Motors currently has a consensus rating of “Buy” and a consensus target price of $43.44.
General Motors (NYSE:GM) traded up 0.06% on Thursday, hitting $36.37. The stock had a trading volume of 15,745,180 shares. General Motors has a 1-year low of $22.67 and a 1-year high of $37.71. The stock’s 50-day moving average is $35.62 and its 200-day moving average is $32.46. The company has a market cap of $50.341 billion and a P/E ratio of 13.02.
General Motors (NYSE:GM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.09. The company had revenue of $39.10 million for the quarter, compared to the consensus estimate of $38.37 million. During the same quarter last year, the company posted $0.90 earnings per share. General Motors’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that General Motors will post $3.40 earnings per share for the current fiscal year.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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