GAMMA Investing LLC Boosts Stake in GMS Inc. (NYSE:GMS)

GAMMA Investing LLC lifted its holdings in shares of GMS Inc. (NYSE:GMS) by 138.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 621 shares of the company’s stock after purchasing an additional 361 shares during the quarter. GAMMA Investing LLC’s holdings in GMS were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GMS. Blue Trust Inc. lifted its position in GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after buying an additional 171 shares during the last quarter. Quarry LP increased its holdings in GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in GMS in the first quarter valued at approximately $77,000. Canada Pension Plan Investment Board acquired a new position in GMS during the second quarter worth $121,000. Finally, LRI Investments LLC purchased a new position in shares of GMS during the first quarter worth $127,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on GMS. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Robert W. Baird raised their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial cut their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. DA Davidson decreased their price target on shares of GMS from $105.00 to $97.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada cut their price objective on GMS from $92.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and an average price target of $91.50.

GMS Stock Performance

Shares of GMS stock opened at $96.23 on Thursday. The company has a market cap of $3.82 billion, a P/E ratio of 14.30 and a beta of 1.68. The firm has a fifty day moving average price of $89.34 and a 200 day moving average price of $90.35. 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 12 month low of $56.58 and a 12 month high of $101.04.

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