Harbor Capital Advisors Inc. Raises Position in GMS Inc. (NYSE:GMS)

Harbor Capital Advisors Inc. grew its position in GMS Inc. (NYSE:GMS - Free Report) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,758 shares of the company's stock after purchasing an additional 8,607 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.14% of GMS worth $3,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GMS. AlphaQuest LLC raised its holdings in shares of GMS by 1,710.5% in the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after purchasing an additional 325 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of GMS in the 4th quarter valued at $34,000. Versant Capital Management Inc raised its holdings in shares of GMS by 170.5% in the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after purchasing an additional 445 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after purchasing an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of GMS in the 4th quarter valued at $193,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GMS. Robert W. Baird reduced their price objective on shares of GMS from $110.00 to $93.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Loop Capital cut their price target on shares of GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. DA Davidson cut their price target on shares of GMS from $94.00 to $80.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Barclays cut their price target on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada cut their price target on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, GMS has an average rating of "Hold" and a consensus price target of $80.50.

GMS Stock Performance

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

Insider Buying and Selling at GMS

In other news, CEO John C. Turner, Jr. bought 3,650 shares of the stock in a transaction dated Monday, April 7th. The shares were acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now directly owns 31,507 shares in the company, valued at approximately $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 company 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.