General Motors Company (NYSE:GM) Sees Large Growth in Short Interest
General Motors Company (NYSE:GM) (TSE:GMM.U) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 37,472,356 shares, an increase of 13.8% from the July 14th total of 32,934,937 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 10,332,415 shares, the days-to-cover ratio is currently 3.6 days.
In other news, President Daniel Ammann sold 40,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares in the company, valued at approximately $8,494,308. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Karl-Thomas Neumann sold 46,472 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $32.84, for a total value of $1,526,140.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 369,001 shares of company stock valued at $12,827,204. Company insiders own 0.04% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in General Motors during the first quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC bought a new stake in General Motors during the first quarter worth approximately $107,000. Ffcm LLC increased its stake in General Motors by 2,008.1% in the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after buying an additional 3,213 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in General Motors by 240.2% in the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after buying an additional 3,248 shares in the last quarter. Institutional investors and hedge funds own 75.56% of the company’s stock.
General Motors (NYSE GM) opened at 34.93 on Monday. The company’s 50-day moving average price is $35.37 and its 200-day moving average price is $35.14. General Motors has a 12-month low of $30.13 and a 12-month high of $38.55. The firm has a market capitalization of $50.90 billion, a price-to-earnings ratio of 6.07 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts expect that General Motors will post $6.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.35%. General Motors’s dividend payout ratio is presently 26.48%.
GM has been the topic of several research analyst reports. Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, June 21st. Nomura restated a “buy” rating and set a $47.00 price objective on shares of General Motors in a research note on Tuesday, May 2nd. Bank of America Corporation restated a “buy” rating and set a $40.00 price objective (down from $44.00) on shares of General Motors in a research note on Friday, June 16th. BidaskClub upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC restated a “buy” rating and set a $36.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.26.
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General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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