GMS Inc. (NYSE:GMS) Shares Bought 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, Holdings Channel.com reports. The fund owned 340,388 shares of the company’s stock after buying an additional 110,876 shares during the quarter. Verition Fund Management LLC’s holdings in GMS were worth $30,829,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GMS. FMR LLC increased its stake in GMS by 25.3% in the 3rd quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after purchasing an additional 854,987 shares in the last quarter. American Century Companies Inc. increased its position in shares of GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after acquiring an additional 406,406 shares in the last quarter. LSV Asset Management raised its holdings in shares of GMS by 103.0% during the second quarter. LSV Asset Management now owns 690,820 shares of the company’s stock valued at $55,687,000 after acquiring an additional 350,478 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of GMS during the second quarter valued at approximately $24,601,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of GMS in the 2nd quarter valued at approximately $5,402,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

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 shares were 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 $2,427,834.36. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GMS. Truist Financial lowered their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. DA Davidson downgraded GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target on the stock. in a report on Tuesday. Robert W. Baird upped their price target on GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Loop Capital lifted their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.50.

GMS Price Performance

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

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