Brevan Howard Capital Management LP Invests $295,000 in GMS Inc. (NYSE:GMS)

Brevan Howard Capital Management LP acquired a new position in shares of GMS Inc. (NYSE:GMS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,473 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds have also added to or reduced their stakes in GMS. Summit Investment Advisors Inc. grew its position in shares of GMS by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company's stock valued at $350,000 after acquiring an additional 131 shares during the period. Inspire Investing LLC grew its holdings in shares of GMS by 2.9% during the 4th quarter. Inspire Investing LLC now owns 4,716 shares of the company's stock valued at $400,000 after purchasing an additional 134 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of GMS by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company's stock valued at $3,182,000 after purchasing an additional 148 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in GMS by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,936 shares of the company's stock worth $249,000 after acquiring an additional 211 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock worth $62,000 after acquiring an additional 285 shares during the last quarter. Institutional investors own 95.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GMS. DA Davidson reduced their price objective on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Barclays reduced their price objective on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Loop Capital reduced their price objective 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. Robert W. Baird reduced their price objective on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Truist Financial reduced their price objective on shares of GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, GMS has a consensus rating of "Hold" and an average price target of $80.50.

Insiders Place Their Bets

In related news, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $70.00 per share, with a total value of $255,500.00. Following the completion of the purchase, the chief executive officer now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction that occurred 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 $2,314,504.22. This represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

GMS Stock Up 1.9%

Shares of NYSE GMS traded up $1.44 during trading on Friday, hitting $77.17. The stock had a trading volume of 285,349 shares, compared to its average volume of 416,546. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $105.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. The company has a market capitalization of $2.96 billion, a PE ratio of 14.19 and a beta of 1.66. The firm has a fifty day moving average of $72.99 and a two-hundred day moving average of $82.78.

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

GMS 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.