Hollencrest Capital Management Acquires 351 Shares of General Motors (NYSE:GM)

Hollencrest Capital Management increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,551 shares of the auto manufacturer’s stock after purchasing an additional 351 shares during the period. Hollencrest Capital Management’s holdings in General Motors were worth $304,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in General Motors in the 1st quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter worth $28,000. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. Cape Investment Advisory Inc. grew its stake in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors during the 1st quarter worth $30,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GM. UBS Group lifted their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $47.00 in a research report on Wednesday, July 24th. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research started coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.27.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

General Motors stock opened at $48.62 on Friday. The business has a 50 day simple moving average of $46.28 and a 200 day simple moving average of $45.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market capitalization of $55.47 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the company earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is 5.87%.

General Motors announced that its board has approved a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

General Motors 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.