Optimal Asset Management Inc. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 59.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,281 shares of the auto manufacturer’s stock after purchasing an additional 38,911 shares during the period. Optimal Asset Management Inc.’s holdings in General Motors were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Victory Capital Management Inc. increased its position in shares of General Motors by 7.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,403,280 shares of the auto manufacturer’s stock worth $51,360,000 after acquiring an additional 93,158 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of General Motors by 135.6% in the fourth quarter. Picton Mahoney Asset Management now owns 98,000 shares of the auto manufacturer’s stock worth $3,586,000 after buying an additional 56,400 shares during the last quarter. Annex Advisory Services LLC lifted its position in shares of General Motors by 412.3% in the fourth quarter. Annex Advisory Services LLC now owns 427,796 shares of the auto manufacturer’s stock worth $12,377,000 after buying an additional 344,287 shares during the last quarter. Chicago Equity Partners LLC lifted its position in shares of General Motors by 29.8% in the fourth quarter. Chicago Equity Partners LLC now owns 149,465 shares of the auto manufacturer’s stock worth $5,470,000 after buying an additional 34,320 shares during the last quarter. Finally, Evermay Wealth Management LLC lifted its position in shares of General Motors by 10.6% in the fourth quarter. Evermay Wealth Management LLC now owns 23,087 shares of the auto manufacturer’s stock worth $845,000 after buying an additional 2,217 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.

Shares of GM stock traded down $0.64 during trading hours on Friday, hitting $24.59. The company had a trading volume of 5,672,334 shares, compared to its average volume of 16,487,779. General Motors has a 12 month low of $14.32 and a 12 month high of $41.90. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 1.70 and a beta of 1.41. The firm’s fifty day moving average is $26.18 and its 200 day moving average is $28.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.95 and a current ratio of 1.07.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, May 6th. The auto manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.32. The company had revenue of $32.71 billion for the quarter, compared to analyst estimates of $31.37 billion. General Motors had a return on equity of 12.73% and a net margin of 3.60%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. On average, sell-side analysts expect that General Motors will post 1.51 EPS for the current fiscal year.

In other General Motors news, EVP Julian G. Blissett purchased 9,300 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $26.00 per share, for a total transaction of $241,800.00. Following the completion of the transaction, the executive vice president now owns 22,130 shares in the company, valued at $575,380. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.51% of the company’s stock.

A number of analysts have weighed in on GM shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $33.00 price target on shares of General Motors in a research report on Thursday, May 7th. Cfra cut General Motors to a “sell” rating and set a $15.00 price objective for the company. in a research report on Tuesday, April 7th. Bank of America cut their price objective on General Motors from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Nomura Instinet cut their price objective on General Motors from $36.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Finally, Deutsche Bank raised General Motors from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. General Motors presently has an average rating of “Buy” and a consensus target price of $34.53.

General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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