GMS Inc. (NYSE:GMS) Shares Sold by Covestor Ltd

Covestor Ltd reduced its holdings in shares of GMS Inc. (NYSE:GMS) by 32.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 375 shares of the company’s stock after selling 183 shares during the quarter. Covestor Ltd’s holdings in GMS were worth $34,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in shares of GMS by 62.9% in the 1st quarter. SG Americas Securities LLC now owns 4,034 shares of the company’s stock valued at $393,000 after purchasing an additional 1,557 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of GMS by 4.9% in the 1st quarter. ProShare Advisors LLC now owns 8,075 shares of the company’s stock valued at $786,000 after purchasing an additional 377 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of GMS by 1.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 68,049 shares of the company’s stock valued at $6,624,000 after purchasing an additional 1,113 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of GMS in the 1st quarter valued at about $814,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of GMS by 56.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock valued at $5,060,000 after purchasing an additional 18,799 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

GMS has been the subject of several research reports. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird boosted their target price on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays reduced their target price on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Finally, Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $91.50.

GMS Stock Up 0.1 %

GMS opened at $99.83 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average price of $92.03 and a two-hundred day moving average price of $90.42. The company has a market cap of $3.92 billion, a PE ratio of 16.47 and a beta of 1.68. GMS Inc. has a 52 week low of $64.28 and a 52 week high of $103.56.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.21). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 earnings per share. As a group, research analysts anticipate 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.