General Motors (NYSE:GM) Short Interest Down 6.7% in May

General Motors (NYSE:GM) (TSE:GMM.U) was the recipient of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 58,300,000 shares, a drop of 6.7% from the May 15th total of 62,470,000 shares. Based on an average trading volume of 14,950,000 shares, the short-interest ratio is presently 3.9 days. Currently, 5.1% of the shares of the company are sold short.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Christopher Hatto sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total value of $252,060.00. Following the transaction, the chief accounting officer now directly owns 15,507 shares of the company’s stock, valued at approximately $651,449.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,194,343 shares of company stock valued at $53,674,717 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GM. LifeSteps Financial Inc. acquired a new stake in shares of General Motors during the 1st quarter worth about $25,000. Highlander Capital Management LLC purchased a new stake in General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Montag A & Associates Inc. purchased a new position in shares of General Motors during the 1st quarter worth $30,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of General Motors during the first quarter worth $32,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 1.8 %

General Motors stock opened at $46.77 on Monday. The stock has a 50-day simple moving average of $44.85 and a 200-day simple moving average of $40.47. The company has a market capitalization of $53.36 billion, a P/E ratio of 5.72, a PEG ratio of 0.54 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts expect that General Motors will post 9.44 earnings per share for the current year.

General Motors declared that its Board of Directors has authorized a share buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Analyst Ratings Changes

GM has been the topic of a number of recent analyst reports. Wedbush upped their target price on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Barclays increased their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Sanford C. Bernstein assumed coverage on General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. Piper Sandler upped their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

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.