Ritholtz Wealth Management Lowers Stake in GMS Inc. (NYSE:GMS)

Ritholtz Wealth Management cut its position in GMS Inc. (NYSE:GMS) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,608 shares of the company’s stock after selling 626 shares during the period. Ritholtz Wealth Management’s holdings in GMS were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SummerHaven Investment Management LLC increased its stake in GMS by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company’s stock worth $715,000 after buying an additional 171 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of GMS in the first quarter valued at about $442,000. GAMMA Investing LLC boosted its stake in shares of GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company’s stock worth $59,000 after acquiring an additional 222 shares during the period. Yousif Capital Management LLC grew its position in shares of GMS by 1.0% during the first quarter. Yousif Capital Management LLC now owns 15,143 shares of the company’s stock worth $1,108,000 after purchasing an additional 147 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in GMS by 19.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 53,758 shares of the company’s stock valued at $3,933,000 after purchasing an additional 8,607 shares during the period. 95.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GMS has been the topic of a number of research analyst reports. Robert W. Baird set a $93.00 price target on GMS in a report on Tuesday. Loop Capital lowered their target price on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Truist Financial set a $80.00 target price on shares of GMS in a research report on Tuesday. Barclays reiterated an “equal weight” rating on shares of GMS in a report on Tuesday. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of GMS in a report on Tuesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, GMS presently has an average rating of “Hold” and a consensus price target of $80.50.

Insider Activity

In other news, CEO John C. Turner, Jr. acquired 3,650 shares of the business’s stock in a transaction on Monday, April 7th. The shares were acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the transaction, the chief executive officer now directly owns 66,928 shares of the company’s stock, valued at approximately $4,684,960. The trade was a 5.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. This represents a 28.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

GMS Stock Performance

Shares of NYSE:GMS opened at $81.12 on Thursday. The firm has a fifty day simple moving average of $74.71 and a two-hundred day simple moving average of $79.32. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $3.11 billion, a P/E ratio of 22.47 and a beta of 1.62.

GMS (NYSE:GMS) last announced its quarterly earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.18. GMS had a net margin of 2.61% and a return on equity of 18.77%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, analysts expect that GMS Inc. will post 7.26 earnings per share 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.