Millennium Management LLC Sells 328,878 Shares of GMS Inc. (NYSE:GMS)

Millennium Management LLC trimmed its stake in GMS Inc. (NYSE:GMS - Free Report) by 83.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,261 shares of the company's stock after selling 328,878 shares during the period. Millennium Management LLC owned about 0.17% of GMS worth $5,706,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. AlphaQuest LLC increased its stake in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after buying an additional 325 shares during the period. Canada Pension Plan Investment Board bought a new stake in GMS in the fourth quarter valued at approximately $34,000. Blue Trust Inc. increased its position in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company's stock valued at $62,000 after purchasing an additional 285 shares during the period. Smartleaf Asset Management LLC raised its holdings in GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after purchasing an additional 705 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in GMS during the 4th quarter worth approximately $193,000. 95.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at GMS

In related news, CEO John C. Turner, Jr. acquired 3,650 shares of the firm's 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 completion of the acquisition, the chief executive officer now owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This represents a 5.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction dated Tuesday, April 1st. The stock was 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. This represents a 28.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

GMS Stock Down 1.3%

NYSE:GMS traded down $1.02 on Friday, hitting $75.70. The stock had a trading volume of 363,881 shares, compared to its average volume of 417,375. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The business's fifty day moving average is $73.43 and its 200 day moving average is $81.56. The company has a market cap of $2.91 billion, a PE ratio of 13.92 and a beta of 1.66.

GMS (NYSE:GMS - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.47). The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. On average, equities research analysts expect that GMS Inc. will post 7.26 EPS for the current fiscal year.

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.