DETROIT - General Motors Co (NYSE:GM) President Mark L. Reuss has sold a significant number of shares in the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 28, involved the sale of 150,000 shares at an average price of $43.44, netting a total of $6.5 million.
The sale was executed in multiple transactions with prices ranging from $43.05 to $43.75 per share. Following this transaction, Reuss still owns 176,907 shares of General Motors directly. The SEC filing indicated that Reuss, or his authorized representative, is willing to provide full information regarding the number of shares sold at each price point within the given range, upon request.
This move by one of the top executives at General Motors may attract the attention of investors and market analysts, as executive stock transactions are often watched for insights into company performance and leadership confidence.
General Motors, headquartered in Detroit, Michigan, is a leading automaker known for its wide range of vehicles, including cars, trucks, and SUVs. As of the date of the report, the company's stock is publicly traded on the New York Stock Exchange under the ticker symbol GM.
InvestingPro Insights
Amid the news of General Motors Co (NYSE:GM) President Mark L. Reuss's notable share sale, investors and analysts are keen to understand the broader financial context of the company. With a market capitalization of $49.49 billion and a compelling price-to-earnings (P/E) ratio of 5.33, General Motors presents a potentially attractive opportunity for value-oriented investors. The company's strong performance is further underscored by its P/E ratio for the last twelve months as of Q1 2024, which stands at an even more appealing 4.63.
General Motors has also demonstrated robust revenue growth, reporting an 8.79% increase over the last twelve months as of Q1 2024. Additionally, the company has seen a significant price uptick of 35.34% over the past six months, suggesting a positive market sentiment that may reflect in the stock's performance moving forward.
InvestingPro Tips further reveal that General Motors is not only a prominent player in the Automobiles industry but is also predicted by analysts to be profitable this year, having been profitable over the last twelve months. The company's aggressive share buyback strategy and upward earnings revisions by 13 analysts for the upcoming period hint at a confident outlook from both management and market experts.
For investors seeking more in-depth analysis, there are additional tips available on InvestingPro, including insights into the company's valuation, free cash flow yield, and gross profit margins. To access these insights, visit https://www.investing.com/pro/GM. Moreover, by using the coupon code PRONEWS24, readers can obtain an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert assessments to inform their investment decisions.
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