CacheTech Inc. Purchases 6,784 Shares of GMS Inc. (NYSE:GMS)

Key Points

• CacheTech Inc. increased its holdings in GMS Inc. by 20.4% during the 1st quarter, acquiring an additional 6,784 shares to reach a total of 39,962 shares valued at approximately $2.92 million.
• GMS Inc. reported earnings of $1.29 per share for the latest quarter, exceeding analysts' expectations, despite a year-over-year revenue decline of 5.6%.
• Institutional investors hold 95.28% of GMS's stock, with several firms like Envestnet Asset Management and Bank of Montreal recently boosting their positions in the company.

CacheTech Inc. lifted its position in GMS Inc. (NYSE:GMS - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 39,962 shares of the company's stock after purchasing an additional 6,784 shares during the period. CacheTech Inc. owned about 0.10% of GMS worth $2,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in GMS by 10.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,448 shares of the company's stock valued at $2,159,000 after acquiring an additional 2,410 shares in the last quarter. Bank of Montreal Can boosted its holdings in GMS by 8.5% in the fourth quarter. Bank of Montreal Can now owns 6,359 shares of the company's stock valued at $539,000 after acquiring an additional 499 shares in the last quarter. Raymond James Financial Inc. bought a new stake in GMS in the fourth quarter valued at $1,547,000. Rockefeller Capital Management L.P. boosted its holdings in GMS by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 37,507 shares of the company's stock valued at $3,182,000 after acquiring an additional 148 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in GMS by 3.3% in the fourth 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 in the last quarter. Institutional investors own 95.28% of the company's stock.

GMS Stock Performance

Shares of GMS stock opened at $109.41 on Friday. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $110.28. The stock has a market cap of $4.16 billion, a PE ratio of 37.86 and a beta of 1.76. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.85. The company's fifty day moving average price is $102.63 and its 200-day moving average price is $85.09.

GMS (NYSE:GMS - Get Free Report) last announced its 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. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.30 billion. GMS had a net margin of 2.09% and a return on equity of 16.97%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. On average, equities analysts expect that GMS Inc. will post 7.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Baird R W cut shares of GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $95.00 price target (up previously from $93.00) on shares of GMS in a report on Monday, June 23rd. DA Davidson lifted their price target on shares of GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Royal Bank Of Canada lifted their price target on shares of GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, July 1st. Finally, Loop Capital boosted their target price on shares of GMS from $95.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Ten equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $101.11.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the transaction, the chief operating officer owned 23,950 shares of the company's stock, valued at $2,592,108.50. The trade was a 17.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Coliseum Capital Management, L sold 179,133 shares of GMS stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.05, for a total value of $19,713,586.65. Following the completion of the transaction, the insider directly owned 3,646,018 shares of the company's stock, valued at approximately $401,244,280.90. This represents a 4.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.