GMS Inc. (NYSE:GMS) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC grew its stake in shares of GMS Inc. (NYSE:GMS) by 48.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340,388 shares of the company’s stock after acquiring an additional 110,876 shares during the quarter. Verition Fund Management LLC owned about 0.87% of GMS worth $30,829,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. increased its position in GMS by 86.4% during the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 171 shares during the last quarter. Quarry LP boosted its holdings in shares of GMS by 37.1% in the 2nd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of GMS by 138.8% during the 3rd quarter. GAMMA Investing LLC now owns 621 shares of the company’s stock valued at $56,000 after buying an additional 361 shares during the period. KBC Group NV increased its holdings in shares of GMS by 31.9% during the 3rd quarter. KBC Group NV now owns 1,162 shares of the company’s stock worth $105,000 after buying an additional 281 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of GMS in the 2nd quarter worth $121,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

GMS Stock Down 0.3 %

Shares of GMS stock opened at $100.22 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. GMS Inc. has a 1-year low of $65.46 and a 1-year high of $105.54. The business has a 50-day moving average of $94.48 and a 200-day moving average of $90.79. The company has a market capitalization of $3.94 billion, a PE ratio of 16.54 and a beta of 1.68.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Loop Capital boosted their price target on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday. DA Davidson cut 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 raised their price target on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial decreased their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Barclays cut their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $92.50.

GMS Company Profile

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.