Algert Global LLC Sells 132,548 Shares of GMS Inc. (NYSE:GMS)

Algert Global LLC lessened its stake in shares of GMS Inc. (NYSE:GMS) by 87.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,987 shares of the company’s stock after selling 132,548 shares during the quarter. Algert Global LLC’s holdings in GMS were worth $1,720,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in GMS by 630.8% during the first quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock worth $4,268,000 after acquiring an additional 37,846 shares during the last quarter. Comerica Bank lifted its holdings in GMS by 157.0% during the 1st quarter. Comerica Bank now owns 48,284 shares of the company’s stock worth $4,700,000 after purchasing an additional 29,495 shares during the last quarter. Virtu Financial LLC bought a new stake in GMS in the 1st quarter valued at $475,000. LRI Investments LLC acquired a new position in GMS in the 1st quarter valued at $127,000. Finally, Burney Co. acquired a new position in GMS in the 1st quarter valued at $3,154,000. Institutional investors and hedge funds own 95.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GMS. DA Davidson downgraded GMS from a “buy” rating to a “neutral” rating and set a $97.00 target price for the company. in a report on Tuesday. Robert W. Baird boosted their price objective on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays cut their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Finally, Loop Capital raised their price objective on GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.50.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the transaction, the chief operating officer now directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

GMS Trading Down 0.3 %

Shares of GMS opened at $100.22 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. GMS Inc. has a 52-week low of $65.46 and a 52-week high of $105.54. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 16.71 and a beta of 1.68. The business’s fifty day moving average is $94.12 and its 200-day moving average is $90.66.

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

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.