Hedge Funds Regret Selling These Soaring Stocks, Part 2

#4 General Motors Company (NYSE:GM)

Investors with Long Positions (as of September 30): 88

Aggregate Value of Investors’ Holdings (as of September 30): $5.11 Billion

While the total number of hedge funds with investments in the $53.7 billion automobile manufacturer dropped by 16 in the July-September period, the subsequent decline in the aggregate value of these investments stood at $670 million. Leon Cooperman’s Omega Advisors and Magnetar Capital, managed by Alec Letowitz and Ross Laser disposed of their entire stakes in General Motors during the third quarter. Collectively hedgies held about 14.4% of the company’s outstanding stock at the end of September. On the other hand,  Warren Buffett‘s Berkshire Hathaway boosted its stake in General Motors Company (NYSE:GM) by 22% during the third quarter to 50 million shares.

General Motors Company (NYSE:GM)’s stock appreciated by more than 13% during the last quarter of 2015, but has slid by 11% alongside the rest of the market. Earlier this week, GM raised its guidance for the current year, citing industry growth, efforts to increase efficiency, and “strong product launch cadence”. In this way, GM currently forecasts EPS in the range of $5.25 and $5.75, compared to the previous range of $5 – $5.50. The company also raised its quarterly dividend by 6% to $0.38 per share and increased its stock buyback by $4 billion to $9 billion.