Inscription Capital LLC Invests $590,000 in General Motors (NYSE:GM)

Inscription Capital LLC acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 9,977 shares of the auto manufacturer’s stock, valued at approximately $590,000.

Other large investors have also made changes to their positions in the company. Nuveen Asset Management LLC grew its holdings in shares of General Motors by 73.0% during the 1st quarter. Nuveen Asset Management LLC now owns 12,135,664 shares of the auto manufacturer’s stock worth $697,315,000 after acquiring an additional 5,119,027 shares during the period. FMR LLC grew its holdings in shares of General Motors by 17.9% during the 2nd quarter. FMR LLC now owns 32,827,503 shares of the auto manufacturer’s stock worth $1,942,403,000 after acquiring an additional 4,993,550 shares during the period. BlackRock Inc. grew its holdings in shares of General Motors by 3.7% during the 2nd quarter. BlackRock Inc. now owns 112,268,186 shares of the auto manufacturer’s stock worth $6,642,907,000 after acquiring an additional 4,023,775 shares during the period. Morgan Stanley grew its holdings in shares of General Motors by 31.7% during the 1st quarter. Morgan Stanley now owns 11,732,480 shares of the auto manufacturer’s stock worth $674,148,000 after acquiring an additional 2,820,610 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of General Motors by 1,112.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,798,363 shares of the auto manufacturer’s stock worth $160,794,000 after acquiring an additional 2,567,488 shares during the period. Institutional investors own 79.91% of the company’s stock.

A number of brokerages have recently commented on GM. Wedbush began coverage on General Motors in a research report on Thursday, July 8th. They issued an “outperform” rating and a $85.00 price target on the stock. Zacks Investment Research cut 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 Monday, August 9th. Credit Suisse Group dropped their price target on General Motors from $77.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, August 5th. Jefferies Financial Group lowered their price objective on General Motors from $68.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, August 9th. Finally, Wells Fargo & Company upped their price objective on General Motors from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $68.32.

NYSE:GM opened at $57.77 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.10 and a quick ratio of 0.93. The firm has a market capitalization of $83.87 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28. General Motors has a one year low of $30.95 and a one year high of $64.30. The business has a fifty day moving average price of $51.89 and a 200-day moving average price of $55.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.08. General Motors had a return on equity of 25.11% and a net margin of 9.13%. The business had revenue of $34.20 billion during the quarter, compared to analyst estimates of $29.66 billion. During the same quarter in the prior year, the business posted ($0.50) EPS. General Motors’s revenue for the quarter was up 103.8% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 6.2 earnings per share for the current fiscal year.

About General Motors

General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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

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