GABELLI & Co INVESTMENT ADVISERS INC. Makes New Investment in General Motors (NYSE:GM)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,675 shares of the auto manufacturer’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fieldpoint Private Securities LLC raised its position in shares of General Motors by 21.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 936 shares of the auto manufacturer’s stock worth $49,000 after purchasing an additional 166 shares during the last quarter. Veriti Management LLC raised its position in shares of General Motors by 0.8% during the 4th quarter. Veriti Management LLC now owns 20,650 shares of the auto manufacturer’s stock worth $1,211,000 after purchasing an additional 172 shares during the last quarter. Liberty Wealth Management LLC raised its position in shares of General Motors by 50.1% during the 3rd quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of General Motors by 6.3% during the 4th quarter. Lindbrook Capital LLC now owns 2,927 shares of the auto manufacturer’s stock worth $172,000 after purchasing an additional 174 shares during the last quarter. Finally, Seelaus Asset Management LLC raised its position in shares of General Motors by 3.6% during the 4th quarter. Seelaus Asset Management LLC now owns 5,796 shares of the auto manufacturer’s stock worth $340,000 after purchasing an additional 200 shares during the last quarter. 82.66% of the stock is owned by institutional investors.

Several research firms have commented on GM. Nomura Instinet reaffirmed a “neutral” rating and issued a $56.00 target price (down from $66.00) on shares of General Motors in a research note on Wednesday, February 9th. Royal Bank of Canada lowered their target price on shares of General Motors from $70.00 to $58.00 in a research note on Wednesday, April 27th. BNP Paribas began coverage on shares of General Motors in a research note on Monday, April 11th. They issued an “outperform” rating for the company. Morgan Stanley lowered their target price on shares of General Motors from $50.00 to $44.00 in a research note on Friday, May 13th. Finally, Berenberg Bank assumed coverage on shares of General Motors in a research note on Tuesday, May 10th. They set a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $62.30.

Shares of NYSE:GM traded down $0.72 during trading on Friday, reaching $35.40. The company had a trading volume of 24,408,025 shares, compared to its average volume of 19,414,302. The firm’s fifty day moving average is $40.65 and its 200 day moving average is $50.17. The firm has a market capitalization of $51.62 billion, a PE ratio of 5.87, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. General Motors has a twelve month low of $34.38 and a twelve month high of $67.21. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.93 and a current ratio of 1.11.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.53. The company had revenue of $35.98 billion during the quarter, compared to analyst estimates of $36.25 billion. General Motors had a net margin of 7.61% and a return on equity of 16.37%. During the same period in the prior year, the business posted $2.25 EPS. Equities analysts predict that General Motors will post 6.89 earnings per share for the current fiscal year.

In related news, EVP Stephen K. Carlisle sold 25,645 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $39.04, for a total value of $1,001,180.80. Following the completion of the sale, the executive vice president now owns 64,170 shares in the company, valued at approximately $2,505,196.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson purchased 35,000 shares of General Motors stock in a transaction that occurred on Thursday, April 28th. The stock was purchased at an average price of $38.79 per share, with a total value of $1,357,650.00. Following the transaction, the chief financial officer now owns 110,000 shares in the company, valued at approximately $4,266,900. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.

General Motors Company Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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

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