Envestnet Asset Management Inc. Trims Holdings in GMS Inc. (NYSE:GMS)

Envestnet Asset Management Inc. decreased its holdings in GMS Inc. (NYSE:GMSGet Rating) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,364 shares of the company’s stock after selling 363 shares during the period. Envestnet Asset Management Inc.’s holdings in GMS were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors increased its stake in GMS by 98.1% in the first quarter. Captrust Financial Advisors now owns 2,322 shares of the company’s stock worth $116,000 after purchasing an additional 1,150 shares during the period. KBC Group NV purchased a new stake in GMS in the second quarter worth $165,000. Delphia USA Inc. purchased a new position in shares of GMS during the first quarter valued at $220,000. Profund Advisors LLC increased its stake in shares of GMS by 6.8% during the first quarter. Profund Advisors LLC now owns 4,626 shares of the company’s stock valued at $230,000 after buying an additional 294 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of GMS by 66.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,781 shares of the company’s stock valued at $238,000 after buying an additional 1,902 shares during the period. Hedge funds and other institutional investors own 98.94% of the company’s stock.

GMS Price Performance

Shares of NYSE GMS opened at $49.34 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.43 and a current ratio of 2.30. The company has a market cap of $2.09 billion, a PE ratio of 7.14 and a beta of 1.87. The business has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $46.87. GMS Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $61.79.

GMS (NYSE:GMSGet Rating) last issued its quarterly earnings results on Thursday, September 1st. The company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.16. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. GMS had a return on equity of 34.71% and a net margin of 6.09%. The company’s quarterly revenue was up 30.5% on a year-over-year basis. During the same quarter last year, the company earned $1.67 earnings per share. As a group, equities analysts expect that GMS Inc. will post 8.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GMS. Truist Financial lowered GMS from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $46.00 in a research note on Wednesday, September 7th. StockNews.com lowered GMS from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 10th. Finally, Robert W. Baird cut their price target on GMS to $56.00 in a research note on Thursday, October 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, GMS has an average rating of “Moderate Buy” and a consensus target price of $56.83.

Insider Buying and Selling

In related news, COO George T. Hendren sold 4,463 shares of GMS stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $51.21, for a total transaction of $228,550.23. Following the completion of the sale, the chief operating officer now owns 23,437 shares of the company’s stock, valued at $1,200,208.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO George T. Hendren sold 4,463 shares of GMS stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $51.21, for a total transaction of $228,550.23. Following the completion of the sale, the chief operating officer now owns 23,437 shares of the company’s stock, valued at $1,200,208.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Coliseum Capital Management, L bought 205,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average cost of $40.19 per share, with a total value of $8,238,950.00. Following the acquisition, the insider now directly owns 6,336,573 shares of the company’s stock, valued at $254,666,868.87. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

GMS Company Profile

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GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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