Other hedge funds have also recently modified their holdings of the company. The sale is expected to cost the company roughly $6.3 billion overall, including $5.4 billion in the third quarter. Short shares grew from 37,516,223 to 37,954,007 over that timeframe.
In other General Motors news, insider Alicia S. Boler-Davis sold 10,000 shares of the business's stock in a transaction that occurred on Friday, October 6th.
Investors are more positive about GM the past few months, largely due to a perception the company is quickly moving in its development of autonomous technology. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer's stock valued at $101,000 after purchasing an additional 860 shares during the period.
The No. 1 US automaker posted lower revenue for the quarter as it shuttered plants North America to reduce production and tackle bloated inventory levels, especially of unpopular sedan models as consumers move increasingly to pickup trucks, SUVs and crossovers. Finally, Ffcm LLC boosted its stake in General Motors by 2,008.1% during the 2nd quarter.
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No. 1 USA automaker General Motors Co posted a quarterly net loss on Tuesday caused by charges related to the sale of its Opel unit in Europe to France's PSA Group, but excluding the charges the results beat analysts' expectations. The fund owned 2,341,628 shares of the auto manufacturer's stock after selling 25,625 shares during the period. The original version of this piece of content can be read at https://www.truebluetribune.com/2017/10/24/general-motors-company-gm-shares-sold-by-state-treasurer-state-of-michigan.html. Planning Advsr Ltd Liability has 0.06% invested in Ford Motor Company (NYSE:F). The company has a market capitalization of $48.44 billion, a PE ratio of 12.837 and a beta of 1.12. The stock has a 50 day moving average price of $11.92 and a 200 day moving average price of $11.34. The stock of General Motors Company (NYSE:GM) earned "Hold" rating by Jefferies on Tuesday, August 9.
Detroit-based GM posted a third-quarter net loss of $2.98 billion, or $2.03 per share, compared with a profit of $2.77 billion, or $1.71 per share a year earlier. General Motors had a net margin of 5.38% and a return on equity of 22.45%.
Despite a weak third quarter, analysts are showing appreciation for CEO Barra's strategy. The business had revenue of $30.48 billion during the quarter, compared to analysts' expectations of $29.93 billion. The business's quarterly revenue was down 16.6% compared to the same quarter previous year. The company's earnings per share from the third quarter of 2016 was $1.71. The ex-dividend date was set for Thursday the 7th of September 2017. This represents a $1.52 annualized dividend and a yield of 3.37%. General Motors Company's dividend payout ratio (DPR) is presently 17.41%.
GM announced the Opel/Vauxhall sale just before the opening of the 2017 Geneva Motor Show. Prentiss Smith invested in 3,000 shares or 0.02% of the stock. For the past month, General Motors Company's stock has been 14.54%, 26.93% for the last quarter, 32.83% for the past six months and 40.92% for the past 52 weeks. Royal Bank Of Canada reiterated a "buy" rating on shares of Ford Motor in a research report on Tuesday, August 15th. On September 14, 2017 the stock rating was changed to "Hold" by Standpoint Research which was a cut from the previous "Buy" rating. Stewart & Patten Co Llc sold 276,241 shares as the company's stock declined 13.59% while stock markets rallied. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00.