General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 62,120,000 shares, a growth of 6.6% from the May 31st total of 58,300,000 shares. Based on an average daily trading volume, of 14,100,000 shares, the short-interest ratio is currently 4.4 days. Currently, 5.5% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages have issued reports on GM. Bank of America reiterated a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Wedbush increased their target price on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Barclays boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Citigroup increased their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler boosted their target price on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and an average target price of $54.91.

General Motors Trading Down 0.6 %

Shares of GM opened at $46.68 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $45.70 and a 200 day moving average price of $41.61. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. The firm has a market capitalization of $53.26 billion, a P/E ratio of 5.71, a P/E/G ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter last year, the firm earned $2.21 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 9.43 EPS for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,152,621 shares of company stock worth $51,818,111. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after acquiring an additional 1,580,681 shares during the period. Capital World Investors increased its holdings in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Putnam Investments LLC raised its position in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of General Motors during the fourth quarter worth $602,280,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.