Aristeia Capital L.L.C. Makes New Investment in GMS Inc. (NYSE:GMS)

Aristeia Capital L.L.C. purchased a new position in shares of GMS Inc. (NYSE:GMS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,117 shares of the company's stock, valued at approximately $349,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC boosted its stake in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock worth $29,000 after buying an additional 325 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of GMS during the 4th quarter worth approximately $34,000. Blue Trust Inc. increased its holdings in GMS by 71.3% in the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock valued at $62,000 after purchasing an additional 285 shares during the last quarter. Smartleaf Asset Management LLC raised its position in GMS by 246.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after purchasing an additional 705 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in GMS during the fourth quarter worth $193,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. acquired 3,650 shares of GMS stock in a transaction dated Monday, April 7th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now owns 66,928 shares of the company's stock, valued at $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

GMS Trading Up 2.4 %

Shares of NYSE:GMS opened at $75.05 on Friday. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The company's 50 day moving average is $73.22 and its two-hundred day moving average is $83.92. The company has a market cap of $2.88 billion, a PE ratio of 13.80 and a beta of 1.66. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.29 billion. GMS had a net margin of 3.92% and a return on equity of 20.67%. Equities analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GMS has been the topic of several research analyst reports. Loop Capital cut their price objective on GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a report on Monday, March 10th. UBS Group set a $80.00 price target on shares of GMS in a research report on Friday, March 7th. Barclays dropped their price objective on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Royal Bank of Canada reduced their target price on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. Finally, DA Davidson dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, GMS presently has an average rating of "Hold" and an average price target of $80.50.

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.

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