Telemark Asset Management LLC Takes $11.49 Million Position in General Motors (NYSE:GM)

Telemark Asset Management LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the first quarter, Holdings Channel reports. The firm purchased 200,000 shares of the auto manufacturer’s stock, valued at approximately $11,492,000.

Several other hedge funds also recently bought and sold shares of GM. Valley Forge Investment Consultants Inc. ADV lifted its stake in General Motors by 388.9% during the first quarter. Valley Forge Investment Consultants Inc. ADV now owns 440 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 350 shares in the last quarter. TCI Wealth Advisors Inc. lifted its stake in General Motors by 2,305.3% during the first quarter. TCI Wealth Advisors Inc. now owns 457 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 438 shares in the last quarter. DB Wealth Management Group LLC acquired a new position in General Motors during the fourth quarter worth $27,000. Institutional & Family Asset Management LLC lifted its stake in General Motors by 468.7% during the fourth quarter. Institutional & Family Asset Management LLC now owns 745 shares of the auto manufacturer’s stock worth $31,000 after purchasing an additional 614 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in General Motors during the fourth quarter worth $31,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

In other news, EVP Matthew Tsien sold 16,989 shares of General Motors stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $63.95, for a total transaction of $1,086,446.55. Following the completion of the sale, the executive vice president now directly owns 82,768 shares in the company, valued at approximately $5,293,013.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 15,533 shares of General Motors stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $62.03, for a total transaction of $963,511.99. Following the sale, the executive vice president now owns 49,926 shares of the company’s stock, valued at $3,096,909.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,557,252 shares of company stock valued at $90,753,377. 0.40% of the stock is owned by insiders.

Shares of GM traded up $0.26 during mid-day trading on Friday, hitting $61.60. 392,435 shares of the company’s stock were exchanged, compared to its average volume of 21,573,561. General Motors has a fifty-two week low of $23.33 and a fifty-two week high of $64.30. The stock has a market cap of $89.36 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.19 and a beta of 1.33. The company has a 50 day simple moving average of $58.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, May 5th. The auto manufacturer reported $2.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $1.28. The firm had revenue of $32.47 billion during the quarter, compared to the consensus estimate of $33.15 billion. General Motors had a net margin of 7.49% and a return on equity of 19.59%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. On average, analysts expect that General Motors will post 5.41 earnings per share for the current year.

A number of research analysts have commented on GM shares. Wells Fargo & Company started coverage on General Motors in a research note on Monday, April 5th. They set an “overweight” rating and a $67.00 price target on the stock. Zacks Investment Research lowered General Motors from a “hold” rating to a “strong sell” rating and set a $51.00 price objective on the stock. in a research report on Tuesday, April 13th. Argus upped their price objective on General Motors from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Jefferies Financial Group upped their price objective on General Motors from $50.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on General Motors from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $63.29.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts 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, Holden, Baojun, and Wuling brand names.

Further Reading: Beige Book

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

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