GMR Solutions (NYSE:GMRS) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of GMR Solutions Inc. (NYSE:GMRS) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $11.40 and traded as high as $11.49. GMR Solutions shares last traded at $11.41, with a volume of 551,446 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on GMRS. JPMorgan Chase & Co. increased their price objective on shares of GMR Solutions from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. Weiss Ratings began coverage on shares of GMR Solutions in a research report on Friday, August 14th. They issued a “sell (d)” rating on the stock. Finally, The Goldman Sachs Group set a $30.00 target price on shares of GMR Solutions in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, GMR Solutions has a consensus rating of “Moderate Buy” and an average target price of $18.78.

GMR Solutions Trading Up 2.7%

The stock has a market cap of $616.37 million and a price-to-earnings ratio of -7.31. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a 50-day simple moving average of $11.40.

GMR Solutions (NYSE:GMRS) last issued its earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($2.22). The business had revenue of $1.49 billion during the quarter. GMR Solutions’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that GMR Solutions Inc. will post 1.68 EPS for the current year.

Insider Activity

In other news, CFO Brian Scott Tierney sold 265,794 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,242,686.80. Following the completion of the transaction, the chief financial officer owned 554,955 shares of the company’s stock, valued at $6,770,451. This represents a 32.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $17,776,644.40. Following the completion of the transaction, the chief executive officer directly owned 2,855,580 shares of the company’s stock, valued at $34,838,076. This represents a 33.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 2,353,423 shares of company stock valued at $28,711,761.

Institutional Investors Weigh In On GMR Solutions

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in GMR Solutions during the 3rd quarter worth approximately $137,000. State Street Corp acquired a new position in GMR Solutions in the 2nd quarter valued at approximately $2,542,000. HBK Investments L P acquired a new position in GMR Solutions in the 2nd quarter valued at approximately $3,092,000. Steamboat Capital Partners LLC bought a new position in shares of GMR Solutions during the second quarter valued at $9,184,000. Finally, Squarepoint Ops LLC bought a new position in shares of GMR Solutions during the second quarter valued at $801,000.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.