General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 34,720,000 shares, an increase of 17.1% from the October 31st total of 29,650,000 shares. Based on an average daily volume of 13,290,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

GM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Wedbush increased their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their target price on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of General Motors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter worth $28,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter valued at about $27,000. Finally, Fortitude Family Office LLC grew its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

NYSE:GM traded up $0.09 during trading hours on Friday, hitting $55.59. The company’s stock had a trading volume of 8,064,728 shares, compared to its average volume of 13,067,318. General Motors has a 52-week low of $31.52 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The business’s 50-day moving average is $51.56 and its two-hundred day moving average is $48.08. The company has a market capitalization of $61.13 billion, a PE ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.28 earnings per share. As a group, research analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s dividend payout ratio (DPR) is presently 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.