Steinberg Global Asset Management Lowers Stake in General Motors (GM)

Steinberg Global Asset Management cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.2% during the fourth quarter, Holdings Channel reports. The fund owned 113,444 shares of the auto manufacturer’s stock after selling 2,561 shares during the quarter. Steinberg Global Asset Management’s holdings in General Motors were worth $4,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fieldpoint Private Securities LLC purchased a new position in shares of General Motors during the third quarter worth approximately $119,000. Cerebellum GP LLC purchased a new position in shares of General Motors during the fourth quarter worth approximately $123,000. Stumpf Capital Management LLC purchased a new position in shares of General Motors during the fourth quarter worth approximately $131,000. Hoertkorn Richard Charles purchased a new position in shares of General Motors during the fourth quarter worth approximately $135,000. Finally, Kovack Advisors Inc. purchased a new position in shares of General Motors during the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 72.49% of the company’s stock.

In related news, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,569,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark L. Reuss sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $43.09, for a total transaction of $1,292,700.00. Following the completion of the transaction, the insider now directly owns 103,052 shares of the company’s stock, valued at approximately $4,440,510.68. The disclosure for this sale can be found here. Insiders have sold a total of 168,847 shares of company stock valued at $7,363,108 in the last ninety days. Corporate insiders own 0.04% of the company’s stock.

A number of equities analysts recently weighed in on GM shares. Vetr lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a research report on Monday, November 13th. Zacks Investment Research lowered shares of General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Cascend Securities lowered shares of General Motors to a “buy” rating in a research report on Tuesday, December 5th. Barclays reiterated a “buy” rating and issued a $61.00 price objective on shares of General Motors in a research report on Tuesday, January 9th. Finally, Goldman Sachs Group lowered shares of General Motors from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $43.16 to $32.00 in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. General Motors currently has a consensus rating of “Hold” and an average target price of $44.03.

General Motors (NYSE:GM) opened at $41.00 on Monday. The stock has a market capitalization of $58,236.73, a price-to-earnings ratio of 6.62, a PEG ratio of 0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. General Motors has a one year low of $31.92 and a one year high of $46.76.

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General Motors 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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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