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Buffett, Soros Sell GM Shares – But JPMorgan Bank Calls Maker’s Stock “Very Inexpensive”

by on May.16, 2014

GM's stock price has bouced a bit but largely been stuck in neutral over the past three months as the maker copes with its recall crisis.

Investors generally don’t like turmoil or uncertainty – something in abundant supply at General Motors these days, which may explain why the makers share price has been performing so poorly.

Yet even after expressing high hopes for the maker’s new CEO Mary Barra, mega-investor Warren Buffett has sold off a quarter of the GM shares held by his investment firm, Berkshire Hathaway. And he’s not alone. Other major investors, including George Soros’ Soros Fund Management, and David Einhorn’s Greenlight Capital, have abandoned the maker in recent months, selling part or all of their holdings.

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Yet even while cautioning that GM will be taking an earnings hit for its latest series of recalls – six separate service actions covering nearly 3 million vehicles announced this week alone – influential JPMorgan’s auto analyst may have sent the sort of positive signal other investors are looking for.

“We note the recalls are very proactive in nature,” Brinkman wrote in a report to investors. “We see GM stock as very inexpensive.”

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Buffett Boosts GM Holdings by 60%

Legendary investor rushes in as Treasury continues stock sell-off.

by on Aug.16, 2013

Warren Buffett just increased his GM stock holdings by 60% to 40 million shares.

Even as – and perhaps because of – the U.S. Treasury continues selling down its remaining stake in General Motors, billionaire investment guru Warren Buffett is rapidly increasing his own holdings in General Motors.

According to a federal filing, Buffett’s investment arm Berkshire Hathaway has increased its holdings in the giant Detroit maker by 60%. He now has 40 million shares, or 2.9% of GM’s outstanding stock.

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That news came just days after Treasury officials advised Congress they has sold off around 25 million more shares in GM for a total sale of $876.9 million. The federal government now holds just 136 million shares, a little more than a quarter of the 500-million-share stake it gained after the maker’s 2009 bankruptcy, in return for a $49.5 billion bailout. (more…)

White House May Hang onto GM Shares Until at Least 2012

But CEO Akerson bets $1 mil on maker’s stock.

by on May.13, 2011

The White House holds its GM stock, and CEO Dan Akerson spends nearly $1 mil to buy more.

Officially, the White House could begin selling off the Treasury’s remaining 500 million shares of General Motors stock once a so-called lockup period expires later this month, but sources are warning the government will likely not make any move until August – and possibly could wait until next year.

With investors wary of automotive stocks at a time of rising gas prices and wavering economic issues – and with GM shares, in particular, being pummeled in recent weeks – the Obama Administration appears wary of making a move too soon, as selling off those shares now could mean a $9.5 billion loss on the GM bailout.

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But while Washington may be wary of what’s happening at the automaker, CEO Dan Akerson appears to be putting his money where his mouth is, investing nearly $1 million to acquire 30,000 shares of GM stock this week, bringing his total holdings to 50,000 shares.  At $31.33 a share — $939,000 in total — Akerson got a bargain compared to those who paid $33 a share when GM launched its long-awaited IPO last November.

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China’s SAIC To Take GM Stake – Help Push IPO Price Above Original Estimates

Foreign money to help take “Government Motors” public again – and may recoup taxpayers’ investment.

by on Nov.15, 2010

"Government Motors"? But which government after the IPO?

With General Motors’ long-awaited IPO expected to take place in a matter of days, the once-bankrupt automaker will begin the process of selling off the 60.1% holdings of the U.S. Treasury, a stake that, among critics, has earned GM the sobriquet of “Government Motors.”

But the alternative might prove equally unsettling to those who prefer to get Washington out of Detroit – even if it gets back most of what taxpayers have invested to keep the domestic automaker alive.

With GM’s IPO expected to take place on Thursday, the 18th, there are growing signs that the maker’s original plan – which called for offering shares, after a 3-for-1 stock split, at $26 to $29 each – may be significantly boosted by strong demand.  But among those lining up to invest in the corporation long seen as a symbol of American industrial might are a variety of banks and funds based in places like China and the Middle East.

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Among the likely investors is SAIC, GM’s primary Chinese partner – which happens to be owned by the Shanghai government.  It is reportedly planning to pump in $500 million out of the $13.6 billion or more that General Motors hopes to raise through its initial public offering.

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