Whitebox Advisors LLC Decreases Stake in General Motors (NYSE:GM)

Whitebox Advisors LLC decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,776 shares of the auto manufacturer’s stock after selling 27,215 shares during the quarter. Whitebox Advisors LLC’s holdings in General Motors were worth $7,209,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GM. Strategic Investment Solutions Inc. IL purchased a new position in General Motors during the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors during the 3rd quarter worth $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors during the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors in the second quarter valued at about $28,000. Finally, EdgeRock Capital LLC acquired a new stake in General Motors during the second quarter worth about $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of several analyst reports. Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Barclays increased their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their target price 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. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $57.74.

General Motors Price Performance

Shares of NYSE GM opened at $53.39 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market cap of $58.71 billion, a price-to-earnings ratio of 5.69, a price-to-earnings-growth ratio of 0.41 and a beta of 1.42. The stock’s 50-day moving average is $52.12 and its two-hundred day moving average is $48.29. General Motors has a 1-year low of $32.81 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its 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 firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 earnings per share. Analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed 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 0.90%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity

In related news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was 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 in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by insiders.

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.