Gotham Asset Management LLC bought a new stake in GMS Inc. (NYSE:GMS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,761 shares of the company’s stock, valued at approximately $668,000. Gotham Asset Management LLC owned about 0.06% of GMS as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. American International Group Inc. increased its position in GMS by 7.0% during the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after buying an additional 288 shares during the last quarter. Legal & General Group Plc increased its position in GMS by 403.2% during the second quarter. Legal & General Group Plc now owns 5,621 shares of the company’s stock worth $160,000 after buying an additional 4,504 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in GMS by 386.4% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,190 shares of the company’s stock worth $182,000 after buying an additional 4,123 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in GMS during the second quarter worth approximately $242,000. Finally, Tudor Investment Corp ET AL acquired a new position in GMS during the second quarter worth approximately $248,000. 55.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on GMS. Stephens lowered their price target on GMS from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Northcoast Research raised GMS from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating and set a $37.00 price target on shares of GMS in a research report on Monday, October 9th. Wells Fargo & Company began coverage on GMS in a research report on Wednesday, October 18th. They set a “market perform” rating and a $38.00 price target on the stock. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $39.00 price target on shares of GMS in a research report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.83.
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In other news, CEO G Michael Callahan, Jr. sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $34.73, for a total transaction of $434,125.00. Following the completion of the sale, the chief executive officer now owns 528,418 shares in the company, valued at approximately $18,351,957.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lynn Ross sold 1,894 shares of GMS stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $34.77, for a total transaction of $65,854.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,894 shares of company stock valued at $931,479. 5.90% of the stock is currently owned by company insiders.
GMS Inc. (NYSE GMS) traded down 0.47% during trading on Friday, hitting $33.67. The stock had a trading volume of 221,181 shares. The firm has a 50 day moving average price of $34.70 and a 200-day moving average price of $34.70. GMS Inc. has a 1-year low of $20.51 and a 1-year high of $36.08. The firm has a market capitalization of $1.38 billion, a PE ratio of 25.78 and a beta of 3.40.
GMS (NYSE:GMS) last issued its quarterly earnings results on Wednesday, September 6th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. GMS had a net margin of 2.28% and a return on equity of 14.13%. The company had revenue of $642.20 million during the quarter, compared to analyst estimates of $645.19 million. During the same quarter last year, the business posted $0.46 EPS. GMS’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that GMS Inc. will post $2.01 EPS for the current year.
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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