Whitebox Advisors LLC Sells 84,978 Shares of General Motors (NYSE:GM)

Whitebox Advisors LLC decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 52.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,798 shares of the auto manufacturer’s stock after selling 84,978 shares during the quarter. Whitebox Advisors LLC’s holdings in General Motors were worth $4,038,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the 4th quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Duncker Streett & Co. Inc. raised its position in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after buying an additional 425 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $45.28 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a 50 day moving average price of $46.82 and a two-hundred day moving average price of $50.27. The firm has a market capitalization of $43.75 billion, a P/E ratio of 7.36, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.62 earnings per share. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. General Motors’s dividend payout ratio is currently 7.80%.

Analyst Ratings Changes

Several brokerages have recently commented on GM. Cowen began coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. The Goldman Sachs Group lowered their price objective on shares of General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Monday, April 14th. Finally, Barclays cut shares of General Motors from an “overweight” rating to a “negative” rating in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.83.

General Motors Profile

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.