Purus Wealth Management LLC Takes Position in General Motors (NYSE:GM)

Purus Wealth Management LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,885 shares of the auto manufacturer’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors during the third quarter worth about $27,000. Truvestments Capital LLC purchased a new stake in General Motors during the 3rd quarter valued at about $27,000. Fairscale Capital LLC acquired a new stake in General Motors in the 2nd quarter valued at about $36,000. Finally, Eastern Bank acquired a new stake in General Motors in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GM shares. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and a consensus target price of $59.68.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last three months. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Down 1.8 %

Shares of GM opened at $50.90 on Monday. The company’s 50-day simple moving average is $53.60 and its 200-day simple moving average is $49.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24. The stock has a market capitalization of $55.97 billion, a PE ratio of 5.43, a P/E/G ratio of 0.36 and a beta of 1.42.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. Analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

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.