Mainstay Capital Management LLC ADV Cuts Stock Position in General Motors (NYSE:GM)

Mainstay Capital Management LLC ADV lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 35.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,996 shares of the auto manufacturer’s stock after selling 5,945 shares during the period. Mainstay Capital Management LLC ADV’s holdings in General Motors were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GM. Advisor Partners LLC boosted its stake in General Motors by 10.8% during the 3rd quarter. Advisor Partners LLC now owns 33,952 shares of the auto manufacturer’s stock valued at $1,273,000 after purchasing an additional 3,321 shares during the last quarter. Signaturefd LLC boosted its stake in General Motors by 3.8% during the 3rd quarter. Signaturefd LLC now owns 15,508 shares of the auto manufacturer’s stock valued at $581,000 after purchasing an additional 563 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in General Motors by 4.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 100,551 shares of the auto manufacturer’s stock valued at $3,769,000 after purchasing an additional 4,440 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in General Motors during the 3rd quarter valued at $301,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in General Motors during the 3rd quarter valued at $26,000. Institutional investors own 76.81% of the company’s stock.

Shares of GM stock traded down $0.39 on Thursday, reaching $36.26. The stock had a trading volume of 3,293,529 shares, compared to its average volume of 9,225,016. The stock has a market cap of $50.68 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.49 and a beta of 1.40. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.83 and a current ratio of 0.96. The company has a 50 day simple moving average of $36.95 and a 200 day simple moving average of $37.72.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.21. General Motors had a return on equity of 21.08% and a net margin of 6.31%. The company had revenue of $36.06 billion for the quarter, compared to analysts’ expectations of $36.03 billion. During the same period last year, the firm earned $1.81 EPS. General Motors’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts anticipate that General Motors will post 6.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.38 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.52 dividend on an annualized basis and a yield of 4.19%. General Motors’s dividend payout ratio is currently 23.24%.

Several brokerages have commented on GM. Royal Bank of Canada increased their target price on General Motors to $52.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Citigroup increased their target price on General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI set a $50.00 price target on General Motors and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group raised their price target on General Motors from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group assumed coverage on General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.38.

In other General Motors news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the sale, the president now directly owns 479,413 shares of the company’s stock, valued at $19,190,902.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Matthew Tsien sold 83,067 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.50, for a total value of $3,281,146.50. Following the sale, the executive vice president now directly owns 84,667 shares in the company, valued at $3,344,346.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,944 shares of company stock worth $14,996,038. 0.51% of the stock is 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.

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

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