General Motors (NYSE:GM) Stock Position Decreased by Mid Atlantic Financial Management Inc. ADV

General Motors (NYSE:GM) Stock Position Decreased by Mid Atlantic Financial Management Inc. ADV

  • August 31, 2020
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Mid Atlantic Financial Management Inc. ADV lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 67.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,607 shares of the auto manufacturer’s stock after selling 26,255 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in General Motors were worth $319,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of General Motors by 4.8% during the first quarter. BlackRock Inc. now owns 104,047,751 shares of the auto manufacturer’s stock worth $2,162,112,000 after buying an additional 4,719,148 shares during the last quarter. Capital World Investors boosted its position in General Motors by 6.6% in the first quarter. Capital World Investors now owns 100,416,712 shares of the auto manufacturer’s stock valued at $2,086,664,000 after buying an additional 6,189,518 shares in the last quarter. Invesco Ltd. grew its stake in General Motors by 9.8% during the first quarter. Invesco Ltd. now owns 40,007,832 shares of the auto manufacturer’s stock worth $831,361,000 after buying an additional 3,557,442 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of General Motors by 159.3% during the first quarter. Capital Research Global Investors now owns 38,555,728 shares of the auto manufacturer’s stock worth $801,188,000 after buying an additional 23,689,152 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of General Motors by 1.4% in the first quarter. Geode Capital Management LLC now owns 18,179,778 shares of the auto manufacturer’s stock valued at $377,147,000 after acquiring an additional 259,438 shares during the last quarter. Institutional investors and hedge funds own 75.41% of the company’s stock.

Shares of GM stock opened at $30.01 on Tuesday. General Motors has a 12-month low of $14.32 and a 12-month high of $39.78. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 2.00. The firm has a fifty day moving average of $26.00 and a 200-day moving average of $26.23. The company has a market capitalization of $39.87 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.16 and a beta of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.72) by $1.22. General Motors had a net margin of 1.46% and a return on equity of 6.27%. The business had revenue of $16.80 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was down 53.4% on a year-over-year basis. On average, equities analysts expect that General Motors will post 2.44 EPS for the current year.

GM has been the subject of several research reports. Nomura Instinet lowered their price objective on shares of General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research report on Friday, August 7th. UBS Group lifted their price target on shares of General Motors from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Jefferies Financial Group initiated coverage on shares of General Motors in a research note on Thursday, August 13th. They set a “hold” rating and a $28.00 price target for the company. Finally, Citigroup raised their price objective on shares of General Motors from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.71.

In other General Motors news, EVP Julian G. Blissett purchased 9,300 shares of the business’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $26.00 per share, with a total value of $241,800.00. Following the transaction, the executive vice president now directly owns 22,130 shares of the company’s stock, valued at approximately $575,380. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.65% of the stock is currently owned by insiders.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Further Reading: FinTech

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

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