GMS Inc. (GMS) Sees Large Decline in Short Interest
GMS Inc. (NYSE:GMS) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 393,946 shares, a decrease of 34.7% from the August 31st total of 603,695 shares. Based on an average daily volume of 605,544 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.4% of the company’s stock are sold short.
A number of brokerages have recently commented on GMS. Zacks Investment Research lowered GMS from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. Stephens reduced their target price on GMS from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. Royal Bank Of Canada boosted their target price on GMS from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. Finally, Northcoast Research raised GMS from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.33.
In other GMS news, CEO G Michael Callahan, Jr. sold 12,500 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $34.73, for a total value of $434,125.00. Following the completion of the sale, the chief executive officer now owns 528,418 shares of the company’s stock, valued at $18,351,957.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lynn Ross sold 1,894 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $34.77, for a total value of $65,854.38. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of GMS. American International Group Inc. raised its position in GMS by 7.0% during the first quarter. American International Group Inc. now owns 4,377 shares of the company’s stock worth $153,000 after acquiring an additional 288 shares in the last quarter. Bank of America Corp DE grew its position in shares of GMS by 0.3% in the 1st quarter. Bank of America Corp DE now owns 161,291 shares of the company’s stock valued at $5,651,000 after acquiring an additional 489 shares during the period. Sei Investments Co. grew its position in shares of GMS by 7.1% in the 2nd quarter. Sei Investments Co. now owns 15,073 shares of the company’s stock valued at $424,000 after acquiring an additional 1,005 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of GMS by 0.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 376,000 shares of the company’s stock valued at $10,565,000 after acquiring an additional 1,325 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of GMS by 9.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,614 shares of the company’s stock valued at $1,038,000 after acquiring an additional 2,436 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.
GMS (GMS) opened at 35.55 on Wednesday. GMS has a one year low of $20.51 and a one year high of $36.08. The company has a market cap of $1.46 billion, a P/E ratio of 27.22 and a beta of 3.39. The company has a 50-day moving average of $34.51 and a 200 day moving average of $34.51.
GMS (NYSE:GMS) last released its quarterly earnings data on Wednesday, September 6th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $642.20 million during the quarter, compared to the consensus estimate of $645.19 million. GMS had a return on equity of 14.13% and a net margin of 2.28%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities research analysts predict that GMS will post $2.01 EPS for the current year.
GMS Company Profile
GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.
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