General Motors (NYSE:GM) Sees Significant Growth in Short Interest

General Motors (NYSE:GM) (TSE:GMM.U) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 32,760,000 shares, an increase of 6.8% from the September 30th total of 30,670,000 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 13,670,000 shares, the days-to-cover ratio is currently 2.4 days.

General Motors Stock Up 0.9 %

Shares of NYSE GM traded up $0.44 during midday trading on Friday, hitting $51.20. 7,115,818 shares of the company’s stock were exchanged, compared to its average volume of 15,012,711. The firm’s fifty day simple moving average is $48.26 and its 200-day simple moving average is $46.40. 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 $56.30 billion, a PE ratio of 5.41, a P/E/G ratio of 0.39 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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 net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value 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 $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock worth $28,267,714 over the last three months. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC boosted its stake in shares of 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 purchasing an additional 225 shares during the period. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the first quarter valued at about $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. JPMorgan Chase & Co. raised their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.92.

About General Motors

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.