General Motors (NYSE:GM) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 82.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 362,501 shares of the auto manufacturer’s stock after purchasing an additional 164,313 shares during the period. Exchange Traded Concepts LLC’s holdings in General Motors were worth $19,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the third quarter worth $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth $31,000. Finally, Eastern Bank acquired a new stake in shares of General Motors in the third quarter valued at $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 514,344 shares of company stock valued at $28,977,691 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

NYSE:GM opened at $53.86 on Friday. The firm’s fifty day simple moving average is $53.30 and its 200-day simple moving average is $49.76. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $59.23 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42. General Motors has a fifty-two week low of $34.71 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the business posted $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts expect that General Motors will post 10.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Sanford C. Bernstein boosted their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.05.

About General Motors

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.