Traders Sell General Motors Company (GM) on Strength Following Insider Selling

Traders sold shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on strength during trading hours on Wednesday after an insider sold shares in the company. $79.81 million flowed into the stock on the tick-up and $121.63 million flowed out of the stock on the tick-down, for a money net flow of $41.82 million out of the stock. Of all stocks tracked, General Motors had the 16th highest net out-flow for the day. General Motors traded up $0.33 for the day and closed at $43.78Specifically, insider Alan S. Batey sold 8,144 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total value of $289,682.08. Following the transaction, the insider now owns 66,748 shares of the company’s stock, valued at $2,374,226.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Craig B. Glidden sold 192,954 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $41.64, for a total transaction of $8,034,604.56. Following the completion of the transaction, the executive vice president now directly owns 214,171 shares in the company, valued at approximately $8,918,080.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 842,901 shares of company stock worth $31,928,733. Company insiders own 0.04% of the company’s stock.

Several research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $43.00 price target on shares of General Motors in a report on Wednesday. Wolfe Research started coverage on General Motors in a research note on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price on the stock. BidaskClub cut General Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Vetr raised General Motors from a “hold” rating to a “buy” rating and set a $37.42 target price on the stock in a research note on Monday, July 24th. Finally, CLSA started coverage on General Motors in a research note on Wednesday, June 21st. They issued a “hold” rating and a $37.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.52.

The stock has a market capitalization of $63.80 billion, a P/E ratio of 7.61 and a beta of 1.45. The firm has a 50 day moving average price of $37.98 and a 200-day moving average price of $35.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 EPS. Equities research analysts predict that General Motors Company will post $6.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.38 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.47%. General Motors’s dividend payout ratio (DPR) is 26.48%.

A number of institutional investors have recently added to or reduced their stakes in GM. Waldron LP boosted its position in General Motors by 13.6% in the 1st quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock valued at $287,000 after buying an additional 975 shares during the period. Assetmark Inc. boosted its position in General Motors by 14.3% in the 1st quarter. Assetmark Inc. now owns 331,438 shares of the auto manufacturer’s stock valued at $11,720,000 after buying an additional 41,562 shares during the period. Milestone Group Inc. boosted its position in General Motors by 11.9% in the 1st quarter. Milestone Group Inc. now owns 7,136 shares of the auto manufacturer’s stock valued at $252,000 after buying an additional 758 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in General Motors by 106.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,339 shares of the auto manufacturer’s stock valued at $2,275,000 after buying an additional 33,195 shares during the period. Finally, P Schoenfeld Asset Management LP purchased a new stake in General Motors in the 1st quarter valued at about $9,226,000. 72.21% of the stock is owned by institutional investors.

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About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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