Versant Capital Management Inc Increases Position in General Motors (NYSE:GM)

Versant Capital Management Inc raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 104.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,466 shares of the auto manufacturer’s stock after purchasing an additional 750 shares during the period. Versant Capital Management Inc’s holdings in General Motors were worth $78,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in General Motors during the third quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the third quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the 2nd quarter worth approximately $28,000. Finally, Eastern Bank purchased a new stake in shares of General Motors in the 3rd quarter valued at $34,000. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.8 %

NYSE GM opened at $51.77 on Friday. The stock’s 50 day moving average is $53.94 and its 200 day moving average is $49.32. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $56.93 billion, a PE ratio of 5.52, a P/E/G ratio of 0.40 and a beta of 1.42. General Motors has a twelve month low of $34.32 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GM. Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $59.58.

About General Motors

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.