General Motors (NYSE:GM) Shares Gap Down to $48.80


General Motors (NYSE:GM) (TSE:GMM.U) gapped down prior to trading on Monday . The stock had previously closed at $48.80, but opened at $47.77. General Motors shares last traded at $47.72, with a volume of 216,715 shares.

GM has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price target on shares of General Motors from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 6th. Wedbush initiated coverage on shares of General Motors in a report on Thursday, July 8th. They issued an “outperform” rating and a $85.00 price target for the company. Jefferies Financial Group cut their price target on shares of General Motors from $68.00 to $53.00 and set a “hold” rating for the company in a report on Monday, August 9th. UBS Group upped their target price on shares of General Motors from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, June 29th. Finally, Tudor Pickering assumed coverage on shares of General Motors in a report on Tuesday, May 18th. They set a “buy” rating and a $76.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.41.


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The stock’s 50-day moving average price is $56.13. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. The company has a market capitalization of $71.96 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 0.80 and a beta of 1.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.08. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $29.66 billion. During the same quarter in the prior year, the company posted ($0.50) earnings per share. General Motors’s revenue for the quarter was up 103.8% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 6.2 earnings per share for the current fiscal year.


In related news, EVP Randall D. Mott sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $64.01, for a total transaction of $384,060.00. Following the sale, the executive vice president now directly owns 122,113 shares in the company, valued at $7,816,453.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Tsien sold 16,989 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $63.95, for a total transaction of $1,086,446.55. Following the sale, the executive vice president now owns 82,768 shares in the company, valued at $5,293,013.60. The disclosure for this sale can be found here. Insiders have sold 215,975 shares of company stock worth $13,595,817 in the last three months. Corporate insiders own 0.40% of the company’s stock.


Institutional investors have recently made changes to their positions in the business. OLD Mission Capital LLC purchased a new position in shares of General Motors during the third quarter worth approximately $205,000. BOKF NA increased its position in shares of General Motors by 16.3% in the first quarter. BOKF NA now owns 19,937 shares of the auto manufacturer’s stock valued at $1,146,000 after buying an additional 2,787 shares in the last quarter. Private Advisor Group LLC increased its position in shares of General Motors by 67.5% in the first quarter. Private Advisor Group LLC now owns 114,320 shares of the auto manufacturer’s stock valued at $6,569,000 after buying an additional 46,077 shares in the last quarter. Arthur M. Cohen & Associates LLC purchased a new position in shares of General Motors in the first quarter valued at $211,000. Finally, Boenning & Scattergood Inc. increased its position in General Motors by 74.8% during the 1st quarter. Boenning & Scattergood Inc. now owns 20,104 shares of the auto manufacturer’s stock worth $1,155,000 after purchasing an additional 8,600 shares in the last quarter. Institutional investors own 76.87% of the company’s stock.


About General Motors (NYSE:GM)

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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