Hsbc Holdings PLC Increases Holdings in GMS Inc. $GMS

Key Points

• Hsbc Holdings PLC significantly increased its stake in GMS Inc. by 102.7% during the first quarter, holding shares valued at approximately $677,000 after purchasing additional shares.
• Insiders sold a total of 343,627 shares of GMS stock over the past ninety days, impacting ownership percentages but still maintaining 1.90% insider ownership.
• Raymond James Financial recently downgraded GMS from "outperform" to "market perform," while other analysts set a consensus rating of "Hold" with an average price target of $101.11.

Hsbc Holdings PLC raised its stake in GMS Inc. (NYSE:GMS - Free Report) by 102.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,312 shares of the company's stock after acquiring an additional 4,719 shares during the quarter. Hsbc Holdings PLC's holdings in GMS were worth $677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GMS. Brooklyn Investment Group purchased a new position in shares of GMS in the 1st quarter worth about $47,000. Summit Securities Group LLC acquired a new stake in GMS during the first quarter valued at approximately $228,000. Raymond James Financial Inc. raised its stake in GMS by 248.9% during the first quarter. Raymond James Financial Inc. now owns 63,617 shares of the company's stock valued at $4,655,000 after buying an additional 45,386 shares in the last quarter. CacheTech Inc. raised its position in shares of GMS by 20.4% during the 1st quarter. CacheTech Inc. now owns 39,962 shares of the company's stock worth $2,924,000 after purchasing an additional 6,784 shares during the period. Finally, American Century Companies Inc. boosted its position in GMS by 12.9% during the 1st quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock worth $121,476,000 after acquiring an additional 189,760 shares during the period. Hedge funds and other institutional investors own 95.28% of the company's stock.

GMS Stock Performance

GMS traded down $0.02 during trading on Thursday, hitting $109.96. The company's stock had a trading volume of 710,652 shares, compared to its average volume of 807,162. The company has a quick ratio of 1.17, a current ratio of 2.11 and a debt-to-equity ratio of 0.87. The business's 50 day simple moving average is $109.16 and its 200-day simple moving average is $87.40. The firm has a market cap of $4.20 billion, a PE ratio of 42.29 and a beta of 1.76. GMS Inc. has a one year low of $65.77 and a one year high of $110.28.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Thursday, September 4th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $1.40 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that GMS Inc. will post 7.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GMS shares. Stephens cut shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a research note on Friday, June 27th. Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. DA Davidson upped their target price on GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Robert W. Baird reissued a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GMS in a research report on Monday, June 23rd. Finally, Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.11.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.05, for a total value of $19,713,586.65. Following the sale, the insider directly owned 3,646,018 shares in the company, valued at $401,244,280.90. The trade was a 4.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO George T. Hendren sold 5,000 shares of the business's 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 in the company, valued at $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 sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is currently owned by insiders.

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.