Renaissance Technologies LLC Sells 87,600 Shares of GMS Inc. (NYSE:GMS)

Renaissance Technologies LLC reduced its position in GMS Inc. (NYSE:GMS) by 58.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,200 shares of the company’s stock after selling 87,600 shares during the period. Renaissance Technologies LLC owned 0.16% of GMS worth $5,361,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GMS. FMR LLC boosted its stake in GMS by 38.7% in the fourth quarter. FMR LLC now owns 5,868,782 shares of the company’s stock valued at $497,849,000 after acquiring an additional 1,636,612 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of GMS during the 4th quarter valued at $109,277,000. Charles Schwab Investment Management Inc. boosted its position in shares of GMS by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company’s stock worth $51,722,000 after purchasing an additional 15,664 shares in the last quarter. Reinhart Partners LLC. grew its stake in GMS by 2.3% during the 4th quarter. Reinhart Partners LLC. now owns 541,519 shares of the company’s stock worth $45,937,000 after buying an additional 12,099 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in GMS by 29.1% during the 4th quarter. JPMorgan Chase & Co. now owns 274,559 shares of the company’s stock valued at $23,291,000 after buying an additional 61,842 shares in the last quarter. 95.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GMS

In related news, Director Theron I. Gilliam sold 12,474 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. This represents a 28.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Turner, Jr. acquired 3,650 shares of the company’s stock in a transaction on Monday, April 7th. The stock was acquired at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, the chief executive officer now owns 66,928 shares of the company’s stock, valued at $4,684,960. This trade represents a 5.77 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GMS shares. UBS Group set a $80.00 price target on GMS in a report on Friday, March 7th. Loop Capital cut their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. DA Davidson lowered their price objective on shares of GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Robert W. Baird dropped their price objective on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Truist Financial reduced their target price on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.50.

GMS Stock Up 0.9 %

Shares of GMS opened at $70.72 on Monday. The stock’s 50-day moving average price is $75.01 and its 200-day moving average price is $85.25. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 13.00 and a beta of 1.62. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54.

GMS (NYSE:GMS) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. On average, sell-side analysts predict that GMS Inc. will post 7.26 EPS for the current year.

About GMS

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.