Panagora Asset Management Inc. grew its holdings in GMS Inc (NYSE:GMS) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,584 shares of the company’s stock after purchasing an additional 33,415 shares during the period. Panagora Asset Management Inc. owned about 0.49% of GMS worth $4,700,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Clearline Capital LP purchased a new position in shares of GMS in the 2nd quarter worth $1,495,000. Schwab Charles Investment Management Inc. boosted its stake in shares of GMS by 16.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 370,607 shares of the company’s stock worth $10,040,000 after buying an additional 51,400 shares during the last quarter. Davidson Kempner Capital Management LP boosted its stake in shares of GMS by 116.7% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 325,000 shares of the company’s stock worth $8,804,000 after buying an additional 175,000 shares during the last quarter. Sei Investments Co. boosted its stake in shares of GMS by 425.9% in the 2nd quarter. Sei Investments Co. now owns 22,889 shares of the company’s stock worth $620,000 after buying an additional 18,537 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of GMS by 273.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 215,048 shares of the company’s stock worth $5,826,000 after buying an additional 157,448 shares during the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.
A number of equities analysts have recently issued reports on the company. SunTrust Banks dropped their price target on GMS to $26.00 and set a “buy” rating on the stock in a research note on Thursday. They noted that the move was a valuation call. Royal Bank of Canada set a $25.00 price target on GMS and gave the stock a “buy” rating in a research note on Thursday. Barclays set a $25.00 target price on GMS and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research downgraded GMS from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet downgraded GMS from a “c-” rating to a “d+” rating in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.10.
NYSE GMS opened at $17.51 on Friday. The firm has a market cap of $749.51 million, a P/E ratio of 8.71, a P/E/G ratio of 0.80 and a beta of 2.17. The company has a current ratio of 2.75, a quick ratio of 1.93 and a debt-to-equity ratio of 1.88. GMS Inc has a fifty-two week low of $14.89 and a fifty-two week high of $39.69.
GMS (NYSE:GMS) last released its earnings results on Tuesday, December 4th. The company reported $0.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.06). The company had revenue of $833.80 million for the quarter, compared to analysts’ expectations of $830.54 million. GMS had a net margin of 2.23% and a return on equity of 17.36%. GMS’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities research analysts anticipate that GMS Inc will post 3.23 EPS for the current year.
In related news, Director John J. Gavin bought 4,150 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were bought at an average cost of $24.13 per share, for a total transaction of $100,139.50. Following the completion of the transaction, the director now owns 16,966 shares of the company’s stock, valued at $409,389.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.90% of the stock is currently owned by insiders.
GMS Company Profile
GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.
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