Magnetar Financial LLC Makes New Investment in GMS Inc. (NYSE:GMS)

Magnetar Financial LLC acquired a new stake in GMS Inc. (NYSE:GMS) in the second quarter, HoldingsChannel reports. The firm acquired 13,119 shares of the company’s stock, valued at approximately $1,058,000.

Other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board grew its stake in GMS by 7.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 87,594 shares of the company’s stock worth $7,061,000 after acquiring an additional 5,977 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of GMS by 4.8% during the second quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after purchasing an additional 34,205 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of GMS by 4.7% during the second quarter. Sei Investments Co. now owns 234,012 shares of the company’s stock worth $18,864,000 after purchasing an additional 10,416 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of GMS by 0.4% in the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after purchasing an additional 6,396 shares during the period. Finally, Bridges Investment Management Inc. acquired a new position in GMS in the second quarter valued at $550,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Insider Activity at GMS

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 completion of the transaction, the senior vice president now owns 10,671 shares in the company, valued at approximately $963,804.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

GMS Price Performance

GMS stock opened at $91.09 on Tuesday. The firm has a fifty day moving average of $89.60 and a 200-day moving average of $90.75. GMS Inc. has a 52-week low of $56.58 and a 52-week high of $101.04. 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 firm has a market capitalization of $3.61 billion, a P/E ratio of 13.53 and a beta of 1.67.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts predict that GMS Inc. will post 7.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird decreased their price target on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 21st. Truist Financial lowered their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Loop Capital cut their price target on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Stephens lowered their price objective on shares of GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, July 1st. Finally, DA Davidson dropped their price objective on GMS from $105.00 to $97.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. 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, the stock has an average rating of “Hold” and an average price target of $89.63.

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.