Insider Selling: General Motors Company Insider Unloads 13,504 Shares of Stock (GM)
General Motors Company (NYSE:GM) Insider Stephen J. Girsky unloaded 13,504 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $33.83, for a total transaction of $456,840.32. Following the completion of the sale, the insider now directly owns 103,026 shares of the company’s stock, valued at approximately $3,485,370. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of General Motors Company (NYSE:GM) remained flat at $33.95 during during mid-day trading trading on Thursday. The stock had a trading volume of 9,956,803 shares. General Motors Company has a 52 week low of $31.70 and a 52 week high of $41.85. The stock’s 50-day moving average is $35.8 and its 200-day moving average is $35.36. The company has a market cap of $54.479 billion and a P/E ratio of 28.48. General Motors Company also was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 36,892,668 shares, a decrease of 15.4% from the July 15th total of 43,613,304 shares. Based on an average daily volume of 15,755,205 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.7% of the shares of the stock are sold short.
General Motors Company (NYSE:GM) last announced its earnings results on Thursday, July 24th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.95 by $0.37. The company had revenue of $39.60 billion for the quarter, compared to the consensus estimate of $40.63 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts expect that General Motors Company will post $2.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Wednesday, September 10th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, September 8th.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of General Motors Company in a research note on Wednesday. They set an “underperform” rating and a $33.30 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of General Motors Company in a research note on Friday, July 25th. They now have a $38.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of General Motors Company from a “buy” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $40.00 price target on the stock, down previously from $45.00. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. General Motors Company currently has a consensus rating of “Buy” and a consensus target price of $40.84.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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