Boothbay Fund Management LLC Has $299,000 Stock Holdings in GMS Inc. (NYSE:GMS)

Posted by on Mar 4th, 2023

Boothbay Fund Management LLC raised its stake in shares of GMS Inc. (NYSE:GMS – Get Rating) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,478 shares of the company’s stock after purchasing an additional 664 shares during the period. Boothbay Fund Management LLC’s holdings in GMS were worth $299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GMS. WINTON GROUP Ltd bought a new stake in shares of GMS in the third quarter valued at approximately $497,000. Captrust Financial Advisors boosted its position in shares of GMS by 10.0% in the second quarter. Captrust Financial Advisors now owns 2,554 shares of the company’s stock valued at $114,000 after acquiring an additional 232 shares during the period. River Road Asset Management LLC boosted its position in shares of GMS by 5.3% in the third quarter. River Road Asset Management LLC now owns 404,053 shares of the company’s stock valued at $16,166,000 after acquiring an additional 20,391 shares during the period. Littlejohn & Co. LLC boosted its position in shares of GMS by 0.3% in the second quarter. Littlejohn & Co. LLC now owns 811,717 shares of the company’s stock valued at $36,121,000 after acquiring an additional 2,489 shares during the period. Finally, AE Wealth Management LLC bought a new stake in shares of GMS in the third quarter valued at approximately $501,000. Institutional investors and hedge funds own 96.34% of the company’s stock.

GMS Stock Performance

GMS stock opened at $61.76 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.35 and a quick ratio of 1.50. The stock has a fifty day moving average price of $56.15 and a two-hundred day moving average price of $50.39. GMS Inc. has a 52-week low of $36.10 and a 52-week high of $62.19. The firm has a market capitalization of $2.57 billion, a P/E ratio of 7.75 and a beta of 1.85.

GMS (NYSE:GMS – Get Rating) last announced its earnings results on Thursday, March 2nd. The company reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.01). GMS had a net margin of 6.32% and a return on equity of 35.76%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $1.74 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that GMS Inc. will post 9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GMS has been the subject of several research reports. Robert W. Baird raised their target price on GMS from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 24th. StockNews.com raised GMS from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 28th. Royal Bank of Canada raised their target price on GMS from $51.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Friday, December 9th. Loop Capital cut GMS from a “buy” rating to a “hold” rating and raised their target price for the stock from $52.00 to $60.00 in a research report on Friday, December 9th. They noted that the move was a valuation call. Finally, Stephens increased their price objective on GMS from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, December 12th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.17.

Insider Activity

In other news, CAO William Forrest Bell sold 2,376 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $55.52, for a total value of $131,915.52. Following the completion of the sale, the chief accounting officer now directly owns 996 shares in the company, valued at $55,297.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director John J. Gavin sold 6,250 shares of GMS stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $52.15, for a total value of $325,937.50. Following the completion of the sale, the director now directly owns 26,229 shares in the company, valued at $1,367,842.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO William Forrest Bell sold 2,376 shares of GMS stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $55.52, for a total value of $131,915.52. Following the completion of the sale, the chief accounting officer now owns 996 shares of the company’s stock, valued at $55,297.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

GMS Company Profile

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GMS, Inc is a holding company, which engages in the distribution of wallboard and suspended ceilings systems and complementary interior construction products. It operates through the following segments: Geographic Divisions, Other, and Corporate. The firm offers ceiling 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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