Short Interest in General Motors Company Drops By 15.4% (GM)
General Motors Company (NYSE:GM) was the target of a significant decline in short interest during the month of 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, American Banking and Market News reports. 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 company’s stock are short sold.
In other General Motors Company news, Insider Stephen J. Girsky unloaded 13,504 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $33.83, for a total value of $456,840.32. The transaction was disclosed in a 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 equities research 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 an average rating of “Buy” and a consensus target price of $40.84.
Shares of General Motors Company (NYSE:GM) opened at 33.84 on Monday. 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 $35.78 and its 200-day moving average is $35.3. The company has a market cap of $54.302 billion and a P/E ratio of 28.48.
General Motors Company (NYSE:GM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.84 earnings per share. General Motors Company’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that General Motors Company will post $2.72 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 3.55%. 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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