Mainstay Capital Management LLC ADV cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,711 shares of the auto manufacturer’s stock after selling 285 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in General Motors were worth $392,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GM. Massey Quick Simon & CO. LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at about $26,000. Quest Capital Management Inc. ADV purchased a new stake in General Motors during the 3rd quarter valued at approximately $26,000. Asset Dedication LLC purchased a new stake in General Motors during the 3rd quarter valued at approximately $27,000. Princeton Global Asset Management LLC purchased a new stake in General Motors during the 2nd quarter valued at approximately $31,000. Finally, Private Ocean LLC purchased a new stake in General Motors during the 3rd quarter valued at approximately $31,000. 75.43% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. Bank of America set a $55.00 price objective on General Motors and gave the company a “buy” rating in a research note on Tuesday, October 15th. Barclays reduced their price objective on General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. ValuEngine raised General Motors from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $49.00 price objective on shares of General Motors in a research note on Sunday. Finally, Benchmark assumed coverage on General Motors in a research note on Thursday, January 9th. They set a “buy” rating and a $49.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. General Motors has a consensus rating of “Buy” and a consensus target price of $47.17.
Shares of GM stock opened at $35.60 on Tuesday. The company has a market cap of $50.86 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 0.53 and a beta of 1.37. The stock has a 50 day simple moving average of $35.93 and a 200-day simple moving average of $37.19. General Motors has a 12-month low of $33.08 and a 12-month high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 29th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.54. The business had revenue of $35.50 billion during the quarter, compared to the consensus estimate of $35.21 billion. General Motors had a return on equity of 19.78% and a net margin of 6.19%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 EPS. On average, equities analysts forecast that General Motors will post 4.79 earnings per share for the current fiscal year.
General Motors Profile
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.
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