General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 29,650,000 shares, a decline of 9.5% from the October 15th total of 32,760,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 12,470,000 shares, the short-interest ratio is currently 2.4 days.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This represents a 60.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,511 shares of company stock worth $35,012,844. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in shares of General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after buying an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. grew its position in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC boosted its stake in General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. grew its holdings in shares of General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after purchasing an additional 21,000 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE:GM traded down $0.65 during midday trading on Tuesday, hitting $55.60. The company’s stock had a trading volume of 7,409,390 shares, compared to its average volume of 14,864,648. The firm has a market cap of $61.14 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. The firm’s 50 day moving average is $49.90 and its 200-day moving average is $47.40. General Motors has a fifty-two week low of $27.70 and a fifty-two week high of $59.39. 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) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS. Equities analysts anticipate that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Analyst Ratings Changes

GM has been the topic of several research reports. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. UBS Group increased their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Barclays increased their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average price target of $56.92.

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.