Investors Purchase High Volume of Call Options on General Motors (GM)
General Motors Company (NYSE:GM) (TSE:GMM.U) was the target of some unusual options trading activity on Wednesday. Traders bought 13,561 call options on the company. This is an increase of approximately 162% compared to the average volume of 5,175 call options.
A number of research analysts have commented on GM shares. Nomura reissued a “buy” rating and set a $47.00 target price on shares of General Motors in a research report on Tuesday, May 2nd. BMO Capital Markets reissued a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Buckingham Research reissued a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Vetr raised shares of General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Berenberg Bank reissued a “sell” rating and set a $31.00 target price on shares of General Motors in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.26.
Shares of General Motors (GM) opened at 34.83 on Friday. General Motors has a 52 week low of $30.13 and a 52 week high of $38.55. The firm has a market capitalization of $50.75 billion, a PE ratio of 6.06 and a beta of 1.45. The firm’s 50-day moving average is $35.49 and its 200 day moving average is $35.08.
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 for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period last year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts forecast that General Motors will post $6.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio is presently 26.48%.
In other General Motors news, President Daniel Ammann sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the transaction, the president now owns 235,953 shares of the company’s stock, valued at approximately $8,494,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles K. Stevens III sold 16,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.80, for a total transaction of $572,800.00. Following the transaction, the insider now directly owns 77,052 shares in the company, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. Insiders have sold a total of 377,145 shares of company stock worth $13,116,886 in the last three months. Insiders own 0.04% of the company’s stock.
Several large investors have recently modified their holdings of GM. Hexavest Inc. increased its stake in shares of General Motors by 5.6% in the first quarter. Hexavest Inc. now owns 1,432,608 shares of the auto manufacturer’s stock valued at $50,657,000 after buying an additional 76,466 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of General Motors during the first quarter valued at $103,000. Oakbrook Investments LLC bought a new stake in shares of General Motors during the first quarter valued at $2,514,000. Round Table Services LLC bought a new stake in shares of General Motors during the first quarter valued at $236,000. Finally, Ledyard National Bank increased its stake in shares of General Motors by 1,413.0% in the first quarter. Ledyard National Bank now owns 9,078 shares of the auto manufacturer’s stock valued at $321,000 after buying an additional 8,478 shares in the last quarter. 75.56% of the stock is owned by hedge funds and other institutional investors.
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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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