Rock Creek Group LP lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 72.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 809 shares of the auto manufacturer’s stock after purchasing an additional 341 shares during the quarter. Rock Creek Group LP’s holdings in General Motors were worth $48,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in General Motors during the second quarter valued at about $25,000. Accel Wealth Management increased its stake in shares of General Motors by 1,510.3% during the second quarter. Accel Wealth Management now owns 467 shares of the auto manufacturer’s stock valued at $28,000 after purchasing an additional 438 shares in the last quarter. Godsey & Gibb Associates bought a new position in shares of General Motors during the first quarter valued at approximately $29,000. Stonebridge Capital Advisors LLC bought a new position in shares of General Motors during the first quarter valued at approximately $29,000. Finally, Aspire Private Capital LLC increased its stake in shares of General Motors by 484.7% during the first quarter. Aspire Private Capital LLC now owns 497 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 412 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
GM opened at $50.74 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.93 and a current ratio of 1.10. General Motors has a fifty-two week low of $28.24 and a fifty-two week high of $64.30. The firm’s fifty day moving average is $53.10 and its 200 day moving average is $56.38. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 0.81 and a beta of 1.28.
A number of brokerages have weighed in on GM. JPMorgan Chase & Co. raised their target price on shares of General Motors from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, June 4th. Jefferies Financial Group reduced their price target on shares of General Motors from $68.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, August 9th. Zacks Investment Research downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Monday, August 9th. Wells Fargo & Company reduced their price target on shares of General Motors from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, September 10th. Finally, Argus raised their target price on shares of General Motors from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, May 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $67.95.
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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