GAMMA Investing LLC Buys 58,030 Shares of GMS Inc. (NYSE:GMS)

GAMMA Investing LLC grew its holdings in GMS Inc. (NYSE:GMS - Free Report) by 10,022.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,609 shares of the company's stock after buying an additional 58,030 shares during the quarter. GAMMA Investing LLC owned 0.15% of GMS worth $4,288,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in GMS by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,130 shares of the company's stock valued at $350,000 after purchasing an additional 131 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position 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 worth $3,182,000 after buying an additional 148 shares during the period. Vise Technologies Inc. boosted its stake in GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company's stock valued at $601,000 after buying an additional 162 shares in the last quarter. PNC Financial Services Group Inc. grew its position in GMS by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,936 shares of the company's stock valued at $249,000 after acquiring an additional 211 shares during the period. Finally, Sherbrooke Park Advisers LLC raised its stake in GMS by 4.0% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company's stock worth $470,000 after acquiring an additional 211 shares in the last quarter. 95.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group set a $80.00 target price on shares of GMS in a research note on Friday, March 7th. Royal Bank of Canada reduced their price objective on GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. Loop Capital decreased their price objective on GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Barclays lowered their target price on GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Finally, Truist Financial cut their price target on GMS from $97.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, GMS presently has an average rating of "Hold" and an average price target of $80.50.

GMS Trading Down 0.2%

NYSE GMS traded down $0.18 on Thursday, reaching $77.60. The company had a trading volume of 511,147 shares, compared to its average volume of 416,632. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The stock's 50 day moving average is $74.20 and its 200-day moving average is $79.97. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 14.26 and a beta of 1.62.

Insider Activity at GMS

In other news, CEO John C. Turner, Jr. acquired 3,650 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average price of $70.00 per share, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. The trade was a 28.36% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.