Rhumbline Advisers raised its holdings in shares of GMS Inc. (NYSE:GMS – Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,804 shares of the company’s stock after purchasing an additional 5,852 shares during the period. Rhumbline Advisers owned 0.31% of GMS worth $7,514,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Ellevest Inc. increased its position in shares of GMS by 40.5% during the first quarter. Ellevest Inc. now owns 631 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of GMS by 5.1% in the 1st quarter. Mackenzie Financial Corp now owns 4,824 shares of the company’s stock valued at $279,000 after acquiring an additional 233 shares during the period. Arizona State Retirement System increased its position in shares of GMS by 2.3% in the 4th quarter. Arizona State Retirement System now owns 10,770 shares of the company’s stock valued at $536,000 after acquiring an additional 243 shares during the period. Captrust Financial Advisors increased its position in shares of GMS by 10.7% in the 2nd quarter. Captrust Financial Advisors now owns 2,571 shares of the company’s stock valued at $114,000 after acquiring an additional 249 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of GMS by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,563 shares of the company’s stock valued at $924,000 after acquiring an additional 262 shares during the period. 97.88% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at GMS
In other GMS news, major shareholder Coliseum Capital Management, L sold 800,000 shares of the stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $66.06, for a total value of $52,848,000.00. Following the completion of the sale, the insider now owns 4,772,485 shares in the company, valued at approximately $315,270,359.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Craig D. Apolinsky sold 16,950 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $71.48, for a total transaction of $1,211,586.00. Following the completion of the sale, the senior vice president now owns 9,870 shares in the company, valued at approximately $705,507.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Coliseum Capital Management, L sold 800,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $66.06, for a total transaction of $52,848,000.00. Following the sale, the insider now owns 4,772,485 shares of the company’s stock, valued at approximately $315,270,359.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,717,270 shares of company stock worth $115,788,574. Insiders own 1.90% of the company’s stock.
GMS Trading Down 5.1 %
GMS (NYSE:GMS – Get Free Report) last issued its quarterly earnings results on Thursday, August 31st. The company reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.01. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.38 billion. GMS had a net margin of 6.14% and a return on equity of 30.62%. GMS’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. On average, sell-side analysts predict that GMS Inc. will post 8.1 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
GMS has been the topic of several research reports. Royal Bank of Canada upped their target price on GMS from $55.00 to $68.00 in a research report on Friday, June 23rd. Stephens upped their target price on GMS from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Raymond James upped their target price on GMS from $70.00 to $82.00 in a research report on Friday, June 23rd. Truist Financial increased their price target on GMS from $60.00 to $72.00 in a research report on Tuesday, June 27th. Finally, DA Davidson started coverage on shares of GMS in a research note on Tuesday, August 22nd. They set a “buy” rating and a $82.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.88.
Get Our Latest Research Report on GMS
About GMS
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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