General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 29,650,000 shares, a drop of 9.5% from the October 15th total of 32,760,000 shares. Based on an average daily trading volume, of 12,470,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.7% of the shares of the stock are sold short.
Insider Transactions at General Motors
In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 653,511 shares of company stock valued at $35,012,844. Insiders own 0.72% of the company’s stock.
Institutional Trading of General Motors
A number of institutional investors have recently bought and sold shares of GM. SJS Investment Consulting Inc. lifted its holdings in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares during the period. Allworth Financial LP grew its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after acquiring an additional 205 shares during the period. Avestar Capital LLC grew its position in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC raised its position in shares of General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on GM
General Motors Trading Down 1.5 %
Shares of NYSE:GM traded down $0.87 during trading on Tuesday, reaching $55.38. 10,055,692 shares of the company were exchanged, compared to its average volume of 14,876,462. General Motors has a 12-month low of $27.70 and a 12-month high of $59.39. The firm has a market capitalization of $60.90 billion, a PE ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. The business’s fifty day simple moving average is $49.90 and its 200-day simple moving average is $47.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the prior year, the company posted $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 10.35 EPS for the current year.
General Motors Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. General Motors’s dividend payout ratio (DPR) is currently 5.12%.
General Motors Company Profile
General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.
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