GMR Solutions (NYSE:GMRS) Shares Gap Down – What’s Next?

GMR Solutions Inc. (NYSE:GMRS)’s share price gapped down before the market opened on Monday. The stock had previously closed at $12.44, but opened at $11.35. GMR Solutions shares last traded at $11.42, with a volume of 500,804 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GMRS shares. The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a research note on Tuesday, August 18th. Weiss Ratings started coverage on shares of GMR Solutions in a research note on Friday, August 14th. They set a “sell (d)” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective 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. One 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 stock. According to MarketBeat, GMR Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

GMR Solutions Trading Down 2.8%

The firm has a market capitalization of $591.54 million and a price-to-earnings ratio of -7.02. 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 business has a 50 day simple moving average of $11.33.

GMR Solutions (NYSE:GMRS) last posted its earnings results on Monday, November 9th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.17. The business had revenue of $1.60 billion for the quarter. Equities analysts forecast that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling at GMR Solutions

In related news, EVP Lisa Jacoba sold 92,680 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $1,130,696.00. Following the completion of the sale, the executive vice president directly owned 198,603 shares of the company’s stock, valued at approximately $2,422,956.60. This represents a 31.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 $17,776,644.40. Following the sale, the chief executive officer directly owned 2,855,580 shares of the company’s stock, valued at approximately $34,838,076. The trade was a 33.79% decrease in their ownership of the stock. 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. Insiders have sold a total of 2,353,423 shares of company stock worth $28,711,761 over the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GMRS. Citadel Advisors LLC acquired a new stake in shares of GMR Solutions during the second quarter worth $49,284,000. Alyeska Investment Group L.P. acquired a new position in GMR Solutions in the 2nd quarter worth $36,817,000. Readystate Asset Management LP acquired a new position in GMR Solutions in the 2nd quarter worth $12,936,000. Steamboat Capital Partners LLC acquired a new position in GMR Solutions in the 2nd quarter worth $9,184,000. Finally, HBK Investments L P bought a new position in GMR Solutions during the 2nd quarter worth about $3,092,000.

GMR Solutions Company Profile

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.