GMS Inc (GMS) Position Trimmed by Capital Fund Management S.A.
Capital Fund Management S.A. trimmed its holdings in shares of GMS Inc (NYSE:GMS) by 8.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,600 shares of the company’s stock after selling 4,700 shares during the period. Capital Fund Management S.A.’s holdings in GMS were worth $1,452,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GMS. SG Americas Securities LLC increased its holdings in GMS by 67.8% during the 1st quarter. SG Americas Securities LLC now owns 5,745 shares of the company’s stock valued at $176,000 after purchasing an additional 2,322 shares in the last quarter. Raymond James & Associates acquired a new stake in GMS during the 2nd quarter valued at $216,000. Xact Kapitalforvaltning AB acquired a new stake in GMS during the 1st quarter valued at $233,000. Victory Capital Management Inc. increased its holdings in GMS by 54.2% during the 1st quarter. Victory Capital Management Inc. now owns 8,688 shares of the company’s stock valued at $266,000 after purchasing an additional 3,055 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in GMS by 79.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,764 shares of the company’s stock valued at $298,000 after purchasing an additional 4,313 shares in the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.
GMS has been the subject of a number of recent analyst reports. Zacks Investment Research raised GMS from a “hold” rating to a “strong-buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 4th. Royal Bank of Canada set a $36.00 price target on GMS and gave the company a “buy” rating in a report on Friday, June 29th. Raymond James raised GMS from an “outperform” rating to a “strong-buy” rating and set a $26.00 price target for the company in a report on Friday, June 29th. TheStreet cut GMS from a “b-” rating to a “c” rating in a report on Thursday, June 28th. Finally, Robert W. Baird cut GMS from an “outperform” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.55.
GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. The firm had revenue of $778.10 million for the quarter, compared to analyst estimates of $768.61 million. GMS had a return on equity of 15.18% and a net margin of 2.13%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. analysts forecast that GMS Inc will post 3.28 EPS for the current year.
In other GMS news, insider G Michael Callahan, Jr. sold 12,500 shares of the stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $31.13, for a total value of $389,125.00. Following the transaction, the insider now directly owns 428,314 shares in the company, valued at approximately $13,333,414.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J David Smith acquired 2,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was purchased at an average price of $26.66 per share, for a total transaction of $53,320.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $106,640. The disclosure for this purchase can be found here. Insiders acquired a total of 12,211 shares of company stock worth $302,199 over the last quarter. Corporate insiders own 4.90% of the company’s stock.
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.
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