Citadel Advisors LLC Invests $49.28 Million in GMR Solutions Inc. $GMRS

Key Points

• Citadel Advisors purchased 3.19 million GMR Solutions shares worth approximately $49.28 million, giving it a 5.9% stake. Other funds, including Alyeska Investment Group and Readystate Asset Management, also established sizable positions.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $18.67, compared with the stock’s recent price of $13.48.
• GMR Solutions reported quarterly revenue of $1.49 billion, up 3.3% year over year, but posted an adjusted loss of $1.84 per share, missing expectations by $2.22.

Citadel Advisors LLC purchased a new stake in shares of GMR Solutions Inc. (NYSE:GMRS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,187,840 shares of the company's stock, valued at approximately $49,284,000. Citadel Advisors LLC owned 5.90% of GMR Solutions at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Two Sigma Securities LLC acquired a new stake in GMR Solutions during the 2nd quarter valued at $169,000. Premier Path Wealth Partners LLC acquired a new stake in shares of GMR Solutions in the second quarter worth $348,000. Readystate Asset Management LP acquired a new stake in shares of GMR Solutions in the second quarter worth $12,936,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of GMR Solutions during the second quarter valued at $36,817,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GMRS shares. Needham & Company LLC set a $18.00 price objective on GMR Solutions in a research note on Monday, June 8th. Morgan Stanley initiated coverage on GMR Solutions in a report on Monday, June 8th. They issued an "equal weight" rating and a $14.00 target price on the stock. Barclays started coverage on shares of GMR Solutions in a research report on Monday, June 8th. They issued an "overweight" rating and a $16.00 price target for the company. Wall Street Zen upgraded shares of GMR Solutions to a "hold" rating in a report on Saturday, May 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of GMR Solutions in a research report on Monday, June 8th. They issued an "overweight" rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GMR Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

GMR Solutions Price Performance

Shares of GMRS stock opened at $13.48 on Monday. GMR Solutions Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $15.98. The business has a 50-day moving average price of $13.49. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $728.19 million and a price-to-earnings ratio of -8.64.

GMR Solutions (NYSE:GMRS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) EPS for the quarter, missing the consensus estimate of $0.38 by ($2.22). The company had revenue of $1.49 billion during the quarter. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that GMR Solutions Inc. will post 1.29 EPS for the current year.

GMR Solutions Company Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.

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