General Motors Company Insider Unloads 13,504 Shares (GM)
General Motors Company (NYSE:GM) Insider Stephen J. Girsky sold 13,504 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $33.83, for a total transaction of $456,840.32. Following the completion of the transaction, the insider now directly owns 103,026 shares in the company, valued at approximately $3,485,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on GM. Analysts at Credit Suisse initiated coverage on shares of General Motors Company in a research note on Wednesday, August 13th. 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 assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.84.
Shares of General Motors Company (NYSE:GM) opened at 33.84 on Monday. General Motors Company has a one year low of $31.70 and a one year high of $41.85. The stock’s 50-day moving average is $35.78 and its 200-day moving average is $35.3. The company has a market cap of $54.302 billion and a price-to-earnings ratio of 28.39. General Motors Company also was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 36,892,668 shares, a decline of 15.4% from the July 15th total of 43,613,304 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 15,755,205 shares, the short-interest ratio is presently 2.3 days.
General Motors Company (NYSE:GM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts expect that General Motors Company will post $2.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Monday, September 8th.
General Motors Corporation (NYSE:GM) designs, build and sell cars, trucks and automobiles parts globally.
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