Comerica Bank Has $1.57 Million Stock Holdings in GMS Inc. $GMS

Key Points

• Comerica Bank increased its stake in GMS Inc. by 44.1% during the first quarter, owning a total of 21,450 shares valued at approximately $1.57 million.
• Several other hedge funds also boosted their investments in GMS, with Coliseum Capital Management increasing their stake by 135.0% and now holding about 1.89 million shares valued at $160 million.
• GMS reported earnings of $1.76 per share for the last quarter, missing estimates by just $0.01, while its revenue of $1.41 billion slightly exceeded expectations.

Comerica Bank boosted its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 44.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,450 shares of the company's stock after acquiring an additional 6,562 shares during the period. Comerica Bank owned approximately 0.06% of GMS worth $1,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eukles Asset Management bought a new position in GMS during the first quarter valued at about $33,000. Brooklyn Investment Group bought a new position in GMS during the first quarter valued at about $47,000. Versant Capital Management Inc increased its stake in GMS by 170.5% during the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after acquiring an additional 445 shares during the period. GAMMA Investing LLC increased its stake in GMS by 38.3% during the first quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after acquiring an additional 222 shares during the period. Finally, Summit Securities Group LLC bought a new position in GMS during the first quarter valued at about $228,000. 95.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GMS

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

GMS Price Performance

Shares of GMS traded down $0.02 on Tuesday, hitting $109.96. The company's stock had a trading volume of 710,652 shares, compared to its average volume of 780,710. The company has a market capitalization of $4.20 billion, a PE ratio of 42.29 and a beta of 1.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.11 and a quick ratio of 1.31. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $110.28. The company has a 50 day moving average price of $109.66 and a 200 day moving average price of $88.08.

GMS (NYSE:GMS - Get Free Report) last announced its earnings results on Thursday, September 4th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.01). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.40 billion. GMS had a return on equity of 16.36% and a net margin of 1.86%.The firm's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 earnings per share. On average, research analysts anticipate that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird restated a "neutral" rating and set a $95.00 price target (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their price objective on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, July 1st. Barclays lifted their price objective on GMS from $95.00 to $110.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Truist Financial lifted their price objective on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Finally, Baird R W downgraded GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $101.11.

About GMS

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.