Victory Capital Management Inc. Sells 499,879 Shares of General Motors (NYSE:GM)

Victory Capital Management Inc. trimmed its position in General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 41.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 718,377 shares of the auto manufacturer’s stock after selling 499,879 shares during the quarter. Victory Capital Management Inc.’s holdings in General Motors were worth $27,234,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of General Motors in the first quarter worth about $26,000. FSB Premier Wealth Management Inc. bought a new stake in shares of General Motors in the fourth quarter worth about $28,000. Sandy Cove Advisors LLC purchased a new position in General Motors in the fourth quarter worth about $30,000. Tyler Stone Wealth Management purchased a new position in General Motors in the fourth quarter worth about $34,000. Finally, MV Capital Management Inc. grew its position in General Motors by 80.6% in the fourth quarter. MV Capital Management Inc. now owns 614 shares of the auto manufacturer’s stock worth $36,000 after acquiring an additional 274 shares in the last quarter. 82.66% of the stock is owned by institutional investors.

General Motors Stock Performance

Shares of NYSE:GM opened at $37.31 on Thursday. The company has a market capitalization of $54.40 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.27. General Motors has a 52 week low of $30.33 and a 52 week high of $67.21. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average of $34.47 and a 200 day moving average of $40.79.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 26th. The auto manufacturer reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.42). The business had revenue of $35.76 billion during the quarter, compared to the consensus estimate of $34.35 billion. General Motors had a return on equity of 13.82% and a net margin of 6.66%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.97 EPS. On average, sell-side analysts predict that General Motors will post 6.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group dropped their price target on General Motors from $59.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Exane BNP Paribas initiated coverage on General Motors in a research report on Monday, April 11th. They set an “outperform” rating for the company. Benchmark dropped their target price on General Motors from $75.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft lowered General Motors from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Finally, Morgan Stanley dropped their target price on General Motors from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.35.

General Motors Company Profile

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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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