Susquehanna International Group Ltd. Purchases New Shares in General Motors (NYSE:GM)

Susquehanna International Group Ltd. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,682 shares of the auto manufacturer’s stock, valued at approximately $636,000.

Several other institutional investors have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC raised its position in General Motors by 58.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 777,974 shares of the auto manufacturer’s stock valued at $36,145,000 after purchasing an additional 285,864 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in General Motors by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 803,857 shares of the auto manufacturer’s stock valued at $37,347,000 after purchasing an additional 41,571 shares during the last quarter. Maverick Capital Ltd. raised its position in General Motors by 18.4% in the 2nd quarter. Maverick Capital Ltd. now owns 21,940 shares of the auto manufacturer’s stock valued at $1,019,000 after purchasing an additional 3,410 shares during the last quarter. MBB Public Markets I LLC raised its position in General Motors by 1,078.4% in the 2nd quarter. MBB Public Markets I LLC now owns 80,200 shares of the auto manufacturer’s stock valued at $3,726,000 after purchasing an additional 73,394 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in General Motors in the 2nd quarter valued at $801,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GM. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.92.

General Motors Stock Up 1.4 %

NYSE:GM opened at $46.47 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $53.02 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.56 and a beta of 1.43. The stock has a 50-day moving average price of $46.02 and a two-hundred day moving average price of $45.47.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors announced that its board has initiated a stock repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s payout ratio is 5.87%.

General Motors Company Profile

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.