Algert Global LLC Purchases 28,137 Shares of GMS Inc. (NYSE:GMS)

Algert Global LLC boosted its position in GMS Inc. (NYSE:GMS) by 22.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,535 shares of the company’s stock after purchasing an additional 28,137 shares during the quarter. GMS makes up approximately 0.4% of Algert Global LLC’s investment portfolio, making the stock its 16th largest holding. Algert Global LLC’s holdings in GMS were worth $12,215,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after acquiring an additional 171 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of GMS by 107.6% during the first quarter. GAMMA Investing LLC now owns 793 shares of the company’s stock valued at $77,000 after acquiring an additional 411 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of GMS during the first quarter valued at about $77,000. Canada Pension Plan Investment Board acquired a new position in shares of GMS during the second quarter valued at about $121,000. Finally, LRI Investments LLC acquired a new position in shares of GMS during the first quarter valued at about $127,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insiders Place Their Bets

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the sale, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Loop Capital cut their price objective on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, June 21st. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird cut their price target on shares of GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 21st. Barclays cut their price target on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Finally, Truist Financial cut their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.63.

GMS Price Performance

Shares of NYSE:GMS opened at $90.76 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. GMS Inc. has a twelve month low of $56.58 and a twelve month high of $101.04. The company’s 50 day moving average is $89.47 and its 200 day moving average is $90.73. The company has a market cap of $3.60 billion, a PE ratio of 13.49 and a beta of 1.67.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a return on equity of 22.02% and a net margin of 4.45%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company posted $2.40 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

GMS Company Profile

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.