General Motors Company (GM) Sees Large Growth in Short Interest
General Motors Company (NYSE:GM) (TSE:GMM.U) was the recipient of a significant increase in short interest in October. As of October 13th, there was short interest totalling 42,307,984 shares, an increase of 11.5% from the September 29th total of 37,954,007 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 16,990,373 shares, the short-interest ratio is currently 2.5 days.
General Motors (NYSE GM) opened at 44.64 on Friday. General Motors has a 1-year low of $30.21 and a 1-year high of $46.76. The stock has a market cap of $65.05 billion, a price-to-earnings ratio of 7.76 and a beta of 1.45. The stock has a 50 day moving average of $42.32 and a 200 day moving average of $36.68.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. Equities analysts expect that General Motors will post $6.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is 77.95%.
Several equities research analysts recently issued reports on GM shares. BidaskClub upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price objective on shares of General Motors in a research report on Friday, July 14th. Finally, Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 price objective for the company. in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $43.70.
In other news, EVP Nysschen Carel J. De sold 123,645 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $44.59, for a total value of $5,513,330.55. Following the transaction, the executive vice president now directly owns 150,484 shares of the company’s stock, valued at $6,710,081.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jane L. Mendillo purchased 1,440 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the purchase, the director now owns 4,560 shares of the company’s stock, valued at approximately $158,961.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,253,540 shares of company stock worth $50,503,341. Insiders own 0.04% of the company’s stock.
A number of large investors have recently modified their holdings of the business. E&G Advisors LP grew its position in General Motors by 5.2% in the third quarter. E&G Advisors LP now owns 40,126 shares of the auto manufacturer’s stock valued at $1,620,000 after acquiring an additional 2,000 shares in the last quarter. Parametrica Management Ltd acquired a new stake in General Motors in the third quarter valued at approximately $395,000. Victory Capital Management Inc. grew its position in General Motors by 17.4% in the third quarter. Victory Capital Management Inc. now owns 211,515 shares of the auto manufacturer’s stock valued at $8,541,000 after acquiring an additional 31,374 shares in the last quarter. Mosaic Family Wealth LLC grew its position in General Motors by 50.3% in the third quarter. Mosaic Family Wealth LLC now owns 16,275 shares of the auto manufacturer’s stock valued at $657,000 after acquiring an additional 5,450 shares in the last quarter. Finally, Vicus Capital grew its position in General Motors by 61.2% in the third quarter. Vicus Capital now owns 17,459 shares of the auto manufacturer’s stock valued at $705,000 after acquiring an additional 6,630 shares in the last quarter. 72.50% of the stock is owned by institutional investors.
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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