GMS Inc. (NYSE:GMS) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in shares of GMS Inc. (NYSE:GMS) by 23.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,165 shares of the company’s stock after selling 1,910 shares during the quarter. ProShare Advisors LLC’s holdings in GMS were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its position in shares of GMS by 2.0% during the 1st quarter. QRG Capital Management Inc. now owns 8,070 shares of the company’s stock worth $786,000 after purchasing an additional 160 shares during the last quarter. Pitcairn Co. lifted its holdings in GMS by 2.5% during the 1st quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after buying an additional 160 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of GMS by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock worth $847,000 after acquiring an additional 162 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of GMS by 86.4% in the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after acquiring an additional 171 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of GMS by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,595 shares of the company’s stock worth $854,000 after acquiring an additional 199 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Stock Down 0.1 %

Shares of NYSE:GMS opened at $90.64 on Tuesday. GMS Inc. has a 1-year low of $56.58 and a 1-year high of $101.04. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The stock has a market cap of $3.59 billion, a P/E ratio of 13.47 and a beta of 1.67. The firm has a fifty day moving average price of $89.47 and a 200 day moving average price of $90.71.

GMS (NYSE:GMS) last announced its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share 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 business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $2.40 EPS. GMS’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts predict that GMS Inc. will post 7.95 EPS for the current year.

Insiders Place Their Bets

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of GMS 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 transaction, the senior vice president now directly owns 10,671 shares in the company, valued at approximately $963,804.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

GMS has been the subject of a number of research analyst reports. Loop Capital lowered their price target on GMS from $100.00 to $85.00 and set a “hold” rating for the company in a report on Friday, June 21st. Robert W. Baird lowered their target price on shares of GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 21st. 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 research note on Friday, August 30th. Stephens decreased 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 on the stock in a report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.63.

About GMS

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.