Victory Capital Management Inc. Sells 22,084 Shares of GMS Inc. (NYSE:GMS)

Key Points

• Victory Capital Management Inc. reduced its stake in GMS Inc. by 21.6% in Q1, now holding 80,050 shares valued at approximately $5.86 million.
• Multiple investors have increased their positions in GMS, with Regents Gate Capital LLP seeing a notable increase of 1,439.9% during the same quarter.
• GMS reported a quarterly earnings per share (EPS) of $1.29, exceeding analyst expectations of $1.11, despite a 5.6% decrease in year-over-year revenue.

Victory Capital Management Inc. reduced its position in GMS Inc. (NYSE:GMS - Free Report) by 21.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 80,050 shares of the company's stock after selling 22,084 shares during the period. Victory Capital Management Inc. owned about 0.21% of GMS worth $5,857,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GMS. Edgestream Partners L.P. raised its stake in GMS by 166.3% in the 1st quarter. Edgestream Partners L.P. now owns 80,145 shares of the company's stock valued at $5,864,000 after acquiring an additional 50,049 shares during the period. Isthmus Partners LLC boosted its holdings in shares of GMS by 4.5% during the first quarter. Isthmus Partners LLC now owns 35,729 shares of the company's stock worth $2,614,000 after acquiring an additional 1,535 shares during the period. Bridges Investment Management Inc. grew its position in shares of GMS by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 22,751 shares of the company's stock valued at $1,665,000 after purchasing an additional 11,984 shares during the last quarter. Regents Gate Capital LLP lifted its holdings in GMS by 1,439.9% during the 1st quarter. Regents Gate Capital LLP now owns 72,839 shares of the company's stock worth $5,330,000 after purchasing an additional 68,109 shares during the last quarter. Finally, Eukles Asset Management acquired a new position in GMS in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 95.28% of the company's stock.

GMS Price Performance

Shares of GMS stock traded up $0.13 on Wednesday, hitting $109.73. 1,130,971 shares of the company's stock were exchanged, compared to its average volume of 1,856,816. The company has a 50 day moving average of $93.79 and a 200 day moving average of $82.77. The stock has a market cap of $4.18 billion, a P/E ratio of 37.97 and a beta of 1.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $110.28.

GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that GMS Inc. will post 7.26 EPS for the current year.

Wall Street Analysts Forecast Growth

GMS has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Barclays increased their price target on GMS from $95.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Stephens cut GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective for the company. in a report on Friday, June 27th. Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $95.00 price objective (up previously from $93.00) on shares of GMS in a research report on Monday, June 23rd. Ten investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.11.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total value of $541,150.00. Following the sale, the chief operating officer owned 23,950 shares in the company, valued at $2,592,108.50. This trade represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Coliseum Capital Management, L sold 179,133 shares of the business'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 sale, the insider directly owned 3,646,018 shares in the company, valued at approximately $401,244,280.90. The trade was a 4.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by insiders.

GMS Company 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.