GMR Solutions (NYSE:GMRS) Shares Down 6.7% – Here’s Why

Shares of GMR Solutions Inc. (NYSE:GMRS) were down 6.7% on Monday. The stock traded as low as $10.30 and last traded at $10.32. Approximately 340,533 shares changed hands during trading, a decline of 61% from the average daily volume of 883,274 shares. The stock had previously closed at $11.06.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley assumed coverage on GMR Solutions in a report on Monday, June 8th. They issued an “equal weight” rating and a $14.00 price target for the company. Barclays began coverage on GMR Solutions in a report on Monday, June 8th. They set an “overweight” rating and a $16.00 price objective on the stock. The Goldman Sachs Group set a $30.00 price objective on GMR Solutions in a research report on Tuesday, August 18th. Zacks Research raised GMR Solutions to a “hold” rating in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.78.

GMR Solutions Trading Down 8.9%

The firm’s 50 day moving average price is $12.80. The stock has a market capitalization of $544.52 million and a PE ratio of -6.46. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01.

GMR Solutions (NYSE:GMRS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($2.22). The firm had revenue of $1.49 billion during the quarter. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that GMR Solutions Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Nicola Loporcaro sold 1,457,102 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $17,776,644.40. Following the completion of the transaction, the chief executive officer directly owned 2,855,580 shares of the company’s stock, valued at $34,838,076. This trade represents a 33.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Lisa Jacoba sold 92,680 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $1,130,696.00. Following the transaction, the executive vice president directly owned 198,603 shares of the company’s stock, valued at $2,422,956.60. This represents a 31.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 2,353,423 shares of company stock worth $28,711,761.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in GMR Solutions in the 2nd quarter valued at $49,284,000. Alyeska Investment Group L.P. acquired a new position in shares of GMR Solutions during the 2nd quarter worth about $36,817,000. Readystate Asset Management LP bought a new position in shares of GMR Solutions in the 2nd quarter valued at about $12,936,000. Steamboat Capital Partners LLC acquired a new stake in shares of GMR Solutions in the second quarter valued at about $9,184,000. Finally, HBK Investments L P acquired a new stake in shares of GMR Solutions in the second quarter valued at about $3,092,000.

GMR Solutions Company Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.