Rock Creek Group LP Acquires 341 Shares of General Motors (NYSE:GM)

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.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, August 4th. The auto manufacturer reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.08. General Motors had a net margin of 9.13% and a return on equity of 25.11%. The company had revenue of $34.20 billion for the quarter, compared to analysts’ expectations of $29.66 billion. During the same quarter in the previous year, the company earned ($0.50) EPS. General Motors’s revenue for the quarter was up 103.8% on a year-over-year basis. On average, equities research analysts predict that General Motors will post 6.2 earnings per share for the current year.

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

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