Exchange Traded Concepts LLC Raises Holdings in General Motors (NYSE:GM)

Exchange Traded Concepts LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 82.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,501 shares of the auto manufacturer’s stock after buying an additional 164,313 shares during the period. Exchange Traded Concepts LLC’s holdings in General Motors were worth $19,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after acquiring an additional 205 shares in the last quarter. Avestar Capital LLC raised its holdings in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the period. Metis Global Partners LLC grew its holdings in shares of General Motors by 0.6% during the third quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock valued at $1,625,000 after buying an additional 230 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in shares of General Motors by 2.1% in the 2nd quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after acquiring an additional 238 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,344 shares of company stock valued at $28,977,691 in the last 90 days. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GM shares. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group raised their target price on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.05.

General Motors Trading Down 0.7 %

GM stock opened at $53.86 on Friday. General Motors has a 12-month low of $34.71 and a 12-month high of $61.24. The business’s 50-day moving average is $53.30 and its 200 day moving average is $49.76. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock has a market cap of $59.23 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. On average, sell-side analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Company 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.