GMR Solutions Inc.’s (NYSE:GMRS) Lock-Up Period To End on November 9th

GMR Solutions’ (NYSE:GMRS) lock-up period will expire on Monday, November 9th. GMR Solutions had issued 31,914,893 shares in its public offering on May 13th. The total size of the offering was $478,723,395 based on an initial share price of $15.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

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

GMR Solutions Price Performance

NYSE:GMRS opened at $12.53 on Friday. GMR Solutions has a 12-month low of $8.99 and a 12-month high of $15.98. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 5.50. The company has a 50 day moving average of $11.38.

GMR Solutions (NYSE:GMRS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The business had revenue of $1.49 billion for the quarter. GMR Solutions’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that GMR Solutions will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Lisa Jacoba sold 92,680 shares of GMR Solutions stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $1,130,696.00. Following the sale, the executive vice president owned 198,603 shares of the company’s stock, valued at $2,422,956.60. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Scott Tierney sold 265,794 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the transaction, the chief financial officer owned 554,955 shares in the company, valued at approximately $6,770,451. This trade represents a 32.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 2,353,423 shares of company stock valued at $28,711,761.

Hedge Funds Weigh In On GMR Solutions

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