Lansing Street Advisors Invests $205,000 in General Motors (NYSE:GM)

Lansing Street Advisors acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,420 shares of the auto manufacturer’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beverly Hills Private Wealth LLC grew its stake in General Motors by 46.6% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 23,358 shares of the auto manufacturer’s stock valued at $1,085,000 after purchasing an additional 7,421 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of General Motors by 2.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 23,201 shares of the auto manufacturer’s stock valued at $1,078,000 after buying an additional 551 shares during the last quarter. Qsemble Capital Management LP grew its position in shares of General Motors by 58.2% during the second quarter. Qsemble Capital Management LP now owns 76,426 shares of the auto manufacturer’s stock worth $3,551,000 after buying an additional 28,121 shares in the last quarter. Perritt Capital Management Inc grew its position in shares of General Motors by 7.3% during the second quarter. Perritt Capital Management Inc now owns 7,396 shares of the auto manufacturer’s stock worth $344,000 after buying an additional 502 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of General Motors by 1.9% in the second quarter. American Century Companies Inc. now owns 1,782,796 shares of the auto manufacturer’s stock worth $82,829,000 after buying an additional 33,239 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

General Motors Price Performance

NYSE GM opened at $44.67 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $46.21 and a two-hundred day moving average price of $44.92. The stock has a market cap of $50.97 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 0.47 and a beta of 1.43. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the firm earned $1.91 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts forecast that General Motors will post 9.94 EPS for the current year.

General Motors announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Finally, Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors 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.