GMS Inc. (NYSE:GMS) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in GMS Inc. (NYSE:GMS) by 412.5% in the 3rd quarter, Holdings Channel reports. The firm owned 77,181 shares of the company’s stock after buying an additional 62,120 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GMS were worth $6,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after acquiring an additional 171 shares during the last quarter. Quarry LP lifted its holdings in shares of GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC lifted its stake in GMS by 138.8% in the third quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after buying an additional 361 shares during the last quarter. EntryPoint Capital LLC bought a new stake in GMS in the 1st quarter valued at about $77,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of GMS during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GMS. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Robert W. Baird lifted their target price on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stephens dropped their price target on GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Finally, Barclays decreased their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.50.

GMS Stock Performance

GMS opened at $92.01 on Tuesday. The stock has a market cap of $3.61 billion, a PE ratio of 15.18 and a beta of 1.68. GMS Inc. has a 1 year low of $57.28 and a 1 year high of $101.04. The stock’s 50 day simple moving average is $89.86 and its 200-day simple moving average is $90.02. 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 (NYSE:GMS) last announced its quarterly earnings results 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 return on equity of 22.02% and a net margin of 4.45%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business earned $2.40 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

GMS 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.