Perennial Investment Advisors LLC Reduces Stock Holdings in General Motors (NYSE:GM)

Perennial Investment Advisors LLC decreased its holdings in General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 37.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,357 shares of the auto manufacturer’s stock after selling 4,967 shares during the quarter. Perennial Investment Advisors LLC’s holdings in General Motors were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Benjamin F. Edwards & Company Inc. bought a new position in General Motors in the first quarter worth $26,000. SJS Investment Consulting Inc. raised its holdings in General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 414 shares in the last quarter. FSB Premier Wealth Management Inc. bought a new position in General Motors in the fourth quarter worth $28,000. Sandy Cove Advisors LLC bought a new position in General Motors in the fourth quarter worth $30,000. Finally, Tyler Stone Wealth Management bought a new position in General Motors in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 82.66% of the company’s stock.

General Motors Stock Down 0.5 %

GM stock opened at $36.06 on Friday. General Motors has a twelve month low of $30.33 and a twelve month high of $67.21. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.14. The stock has a market cap of $52.58 billion, a P/E ratio of 6.84, a PEG ratio of 0.53 and a beta of 1.27. The business’s 50-day moving average price is $34.39 and its 200-day moving average price is $40.46.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 26th. The auto manufacturer reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.42). General Motors had a net margin of 6.66% and a return on equity of 13.82%. The company had revenue of $35.76 billion for the quarter, compared to analysts’ expectations of $34.35 billion. During the same period in the previous year, the firm earned $1.97 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post 6.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TheStreet downgraded General Motors from a “b-” rating to a “c+” rating in a report on Friday, May 20th. Barclays restated a “buy” rating and set a $52.00 price target on shares of General Motors in a report on Friday, July 1st. Royal Bank of Canada reduced their price target on General Motors from $70.00 to $58.00 in a report on Wednesday, April 27th. Benchmark reduced their price target on General Motors from $75.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Finally, BNP Paribas initiated coverage on General Motors in a report on Monday, April 11th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average price target of $54.94.

General Motors Profile

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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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