Comerica Bank Buys 6,562 Shares of 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 increased its stake 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 and Exchange Commission (SEC). The fund owned 21,450 shares of the company's stock after purchasing an additional 6,562 shares during the quarter. Comerica Bank owned about 0.06% of GMS worth $1,570,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GMS. Coliseum Capital Management LLC grew its stake in shares of GMS by 135.0% during the fourth quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock valued at $160,285,000 after purchasing an additional 1,085,551 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of GMS by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock valued at $68,287,000 after purchasing an additional 212,128 shares during the last quarter. American Century Companies Inc. grew its stake in shares of GMS by 12.9% during the first quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock valued at $121,476,000 after purchasing an additional 189,760 shares during the last quarter. Nuveen LLC bought a new stake in shares of GMS during the first quarter valued at approximately $7,813,000. Finally, Reinhart Partners LLC. grew its stake in shares of GMS by 17.5% during the first quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock valued at $46,553,000 after purchasing an additional 94,716 shares during the last quarter. 95.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares of the company's stock, valued at approximately $383,691,966.20. This represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO George T. Hendren sold 5,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by company insiders.

GMS Stock Up 0.0%

GMS stock opened at $109.98 on Thursday. The company's 50 day simple moving average is $109.16 and its 200 day simple moving average is $87.40. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $110.28. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 42.30 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 1.17.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on GMS shares. Stephens cut shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research note on Friday, June 27th. Robert W. Baird reissued 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. Loop Capital boosted their price target on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. DA Davidson boosted their price target on shares of GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Truist Financial boosted their price target on shares of GMS from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.11.

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.

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