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General Motors Company (GM) Downgraded to Hold at BidaskClub

General Motors logoGeneral Motors Company (NYSE:GM) (TSE:GMM.U) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday, July 31st.

Several other brokerages have also recently weighed in on GM. Jefferies Group LLC restated a “hold” rating and issued a $36.00 price target on shares of General Motors in a research report on Friday, April 7th. UBS AG restated a “buy” rating and issued a $40.00 price target (up previously from $38.00) on shares of General Motors in a research report on Friday, April 14th. Nomura restated a “buy” rating and issued a $47.00 price target on shares of General Motors in a research report on Tuesday, May 2nd. BMO Capital Markets restated a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Finally, Buckingham Research restated a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.26.

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Shares of General Motors (GM) traded up 0.14% during trading on Monday, hitting $34.93. 6,820,101 shares of the stock were exchanged. The firm has a 50 day moving average of $35.35 and a 200-day moving average of $35.16. General Motors has a 52-week low of $30.13 and a 52-week high of $38.55. The stock has a market cap of $50.90 billion, a PE ratio of 6.07 and a beta of 1.45. General Motors also was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 16,324 put options on the stock. This is an increase of approximately 237% compared to the average volume of 4,840 put options.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that General Motors will post $6.14 earnings per share for the current fiscal year.

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In other General Motors news, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.79, for a total transaction of $617,556.45. Following the completion of the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl-Thomas Neumann sold 234,274 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the sale, the insider now directly owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in General Motors during the first quarter valued at approximately $103,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in General Motors during the first quarter valued at approximately $106,000. FNY Managed Accounts LLC purchased a new stake in General Motors during the first quarter valued at approximately $107,000. Ffcm LLC raised its stake in General Motors by 2,008.1% in the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after buying an additional 3,213 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in General Motors by 171.9% in the first quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after buying an additional 3,262 shares during the last quarter. 76.02% of the stock is owned by institutional investors and hedge funds.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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