General Motors (NYSE:GM – Get Free Report) TSE: GMM.U saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 121,000,000 shares, an increase of 359.9% from the November 30th total of 26,310,000 shares. Currently, 8.8% of the shares of the company are short sold. Based on an average daily volume of 19,760,000 shares, the days-to-cover ratio is presently 6.1 days.
Analyst Ratings Changes
GM has been the subject of a number of recent analyst reports. HSBC initiated coverage on shares of General Motors in a research report on Monday, December 4th. They issued a “buy” rating and a $41.30 price objective for the company. Citigroup raised their price objective on shares of General Motors from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Wedbush reduced their price target on shares of General Motors from $46.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, November 30th. UBS Group reduced their price target on shares of General Motors from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Finally, Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.25.
Institutional Investors Weigh In On General Motors
Several institutional investors and hedge funds have recently bought and sold shares of GM. Signet Financial Management LLC boosted its holdings in General Motors by 0.9% during the second quarter. Signet Financial Management LLC now owns 28,556 shares of the auto manufacturer’s stock worth $1,101,000 after purchasing an additional 266 shares during the last quarter. AFS Financial Group LLC raised its position in shares of General Motors by 2.3% in the second quarter. AFS Financial Group LLC now owns 11,740 shares of the auto manufacturer’s stock valued at $453,000 after purchasing an additional 268 shares during the period. Rothschild Investment Corp IL raised its position in shares of General Motors by 0.4% in the second quarter. Rothschild Investment Corp IL now owns 67,950 shares of the auto manufacturer’s stock valued at $2,620,000 after purchasing an additional 268 shares during the period. Weik Capital Management raised its position in shares of General Motors by 3.1% in the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after purchasing an additional 275 shares during the period. Finally, RFG Advisory LLC raised its position in shares of General Motors by 5.4% in the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 79.62% of the company’s stock.
General Motors Stock Up 0.3 %
NYSE:GM traded up $0.12 on Thursday, reaching $36.20. The stock had a trading volume of 9,716,329 shares, compared to its average volume of 15,551,595. The company has a current ratio of 1.14, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average of $30.82 and a 200 day moving average of $33.66. The stock has a market cap of $49.58 billion, a P/E ratio of 5.09, a price-to-earnings-growth ratio of 0.61 and a beta of 1.48. General Motors has a 12-month low of $26.30 and a 12-month high of $43.63.
General Motors (NYSE:GM – Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 EPS for the quarter, topping the consensus estimate of $1.87 by $0.41. General Motors had a net margin of 5.83% and a return on equity of 16.01%. The business had revenue of $44.13 billion for the quarter, compared to analysts’ expectations of $42.48 billion. During the same quarter last year, the company posted $2.25 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts predict that General Motors will post 7.48 earnings per share for the current year.
General Motors Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Friday, December 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.36 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio (DPR) is 5.06%.
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.