Financial Management Professionals Inc. bought a new position in GMS Inc. (NYSE:GMS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 427 shares of the company’s stock, valued at approximately $30,000.
Other large investors have also recently made changes to their positions in the company. Marotta Asset Management bought a new stake in GMS during the second quarter worth approximately $748,000. Prelude Capital Management LLC increased its stake in GMS by 14.2% during the first quarter. Prelude Capital Management LLC now owns 69,056 shares of the company’s stock worth $3,998,000 after acquiring an additional 8,564 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new stake in GMS during the first quarter worth approximately $41,000. JPMorgan Chase & Co. increased its stake in GMS by 21.9% during the first quarter. JPMorgan Chase & Co. now owns 613,047 shares of the company’s stock worth $35,489,000 after acquiring an additional 110,185 shares during the last quarter. Finally, State Street Corp increased its stake in GMS by 0.5% during the first quarter. State Street Corp now owns 1,596,626 shares of the company’s stock worth $92,429,000 after acquiring an additional 7,235 shares during the last quarter. 97.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GMS has been the subject of several recent analyst reports. Raymond James boosted their target price on GMS from $70.00 to $82.00 in a research report on Friday, June 23rd. VNET Group restated a “maintains” rating on shares of GMS in a research report on Tuesday, June 27th. StockNews.com upgraded GMS from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 9th. Robert W. Baird boosted their price target on GMS from $76.00 to $83.00 in a report on Friday, September 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $68.00 price target on shares of GMS in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GMS currently has an average rating of “Moderate Buy” and an average price target of $77.88.
Insider Buying and Selling
In other GMS news, CEO John C. Turner, Jr. sold 31,103 shares of GMS stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $66.58, for a total transaction of $2,070,837.74. Following the completion of the transaction, the chief executive officer now owns 32,007 shares in the company, valued at approximately $2,131,026.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other GMS news, CEO John C. Turner, Jr. sold 31,103 shares of GMS stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $66.58, for a total transaction of $2,070,837.74. Following the completion of the transaction, the chief executive officer now owns 32,007 shares in the company, valued at approximately $2,131,026.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Coliseum Capital Management, L sold 171,430 shares of GMS stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $70.14, for a total value of $12,024,100.20. Following the transaction, the insider now owns 3,763,783 shares of the company’s stock, valued at approximately $263,991,739.62. The disclosure for this sale can be found here. Insiders sold 635,986 shares of company stock worth $43,916,226 in the last 90 days. Insiders own 1.90% of the company’s stock.
GMS Stock Down 4.0 %
GMS stock opened at $62.94 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 8.04 and a beta of 1.87. The company has a quick ratio of 1.47, a current ratio of 2.37 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $70.64 and a two-hundred day moving average of $64.25. GMS Inc. has a twelve month low of $38.31 and a twelve month high of $76.14.
GMS (NYSE:GMS – Get Free Report) last issued its earnings results on Thursday, August 31st. The company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.01. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. GMS had a return on equity of 30.62% and a net margin of 6.14%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.43 EPS. On average, analysts forecast that GMS Inc. will post 8.09 earnings per share for the current fiscal year.
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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