Traders Buy Shares of General Motors (GM) on Weakness After Insider Selling

Investors purchased shares of General Motors (NYSE:GM) (TSE:GMM.U) on weakness during trading hours on Wednesday after an insider sold shares in the company. $109.13 million flowed into the stock on the tick-up and $65.99 million flowed out of the stock on the tick-down, for a money net flow of $43.14 million into the stock. Of all companies tracked, General Motors had the 15th highest net in-flow for the day. General Motors traded down ($0.65) for the day and closed at $42.15Specifically, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the sale, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the sale, the executive vice president now owns 98,340 shares in the company, valued at $4,215,835.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,059,526 shares of company stock worth $44,428,425. 0.04% of the stock is owned by company insiders.

A number of brokerages have commented on GM. UBS reissued a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Vetr downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a research report on Monday. Buckingham Research reissued a “hold” rating on shares of General Motors in a research report on Thursday, August 24th. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Piper Jaffray Companies set a $51.00 price objective on shares of General Motors and gave the company a “buy” rating in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $43.70.

The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. The company has a market capitalization of $60,130.00, a PE ratio of 6.91, a P/E/G ratio of 0.74 and a beta of 1.54.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion for the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue was down 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. sell-side analysts expect that General Motors will post 6.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is 32.90%.

A number of institutional investors have recently modified their holdings of the business. Intrust Bank NA grew its position in General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the last quarter. IFC Holdings Incorporated FL grew its position in General Motors by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after purchasing an additional 88 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in General Motors by 2.7% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock worth $225,000 after purchasing an additional 166 shares during the last quarter. State of Alaska Department of Revenue grew its position in General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its position in General Motors by 6.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 6,187 shares of the auto manufacturer’s stock worth $216,000 after purchasing an additional 397 shares during the last quarter. 73.06% of the stock is currently owned by institutional investors.

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General Motors Company Profile

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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