Covestor Ltd Reduces Stake in GMS Inc. (NYSE:GMS)

Covestor Ltd reduced its position in GMS Inc. (NYSE:GMS) by 32.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 375 shares of the company’s stock after selling 183 shares during the period. Covestor Ltd’s holdings in GMS were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its stake in 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 in the last quarter. Pitcairn Co. increased its position in GMS by 2.5% during the first quarter. Pitcairn Co. now owns 6,614 shares of the company’s stock worth $644,000 after buying an additional 160 shares in the last quarter. QRG Capital Management Inc. increased its position in GMS by 2.0% during the second quarter. QRG Capital Management Inc. now owns 8,231 shares of the company’s stock worth $664,000 after buying an additional 161 shares in the last quarter. SummerHaven Investment Management LLC increased its position in GMS by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 10,509 shares of the company’s stock worth $847,000 after buying an additional 162 shares in the last quarter. Finally, 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 buying an additional 171 shares in the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GMS. Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Robert W. Baird raised their price target on GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays dropped their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Finally, StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.50.

Insider Activity at GMS

In related news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction on Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

GMS Price Performance

Shares of NYSE:GMS opened at $99.83 on Friday. The company has a market cap of $3.92 billion, a P/E ratio of 16.47 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52 week low of $64.28 and a 52 week high of $103.56. The business has a fifty day simple moving average of $92.03 and a 200-day simple moving average of $90.42.

GMS (NYSE:GMS) last issued its earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business posted $2.40 EPS. GMS’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

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.