Y Intercept Hong Kong Ltd Sells 123,998 Shares of General Motors (NYSE:GM)

Y Intercept Hong Kong Ltd trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 84.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,723 shares of the auto manufacturer’s stock after selling 123,998 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in General Motors were worth $1,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the third quarter worth $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors during the second quarter valued at $28,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $27,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors in the 2nd quarter worth $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday. Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday. Finally, Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.85.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by company insiders.

General Motors Trading Up 0.5 %

Shares of GM opened at $52.30 on Friday. The stock has a market cap of $57.51 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. General Motors has a 52-week low of $32.83 and a 52-week high of $61.24. The firm’s fifty day moving average is $52.72 and its two-hundred day moving average is $48.56. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

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 return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the firm posted $2.28 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts forecast 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 given a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. General Motors’s payout ratio is 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.