GMS Inc. (NYSE:GMS) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in GMS Inc. by 73.1%, now holding 0.90% of the company valued at approximately $25.4 million.
• Other institutional investors such as Allspring Global Investments and Principal Financial Group have increased their shares in GMS, indicating mixed sentiment among hedge funds.
• Recent analyst upgrades have lifted price targets for GMS, with Royal Bank of Canada and Loop Capital both increasing their targets to $110, suggesting potential growth prospects for the stock.

Pacer Advisors Inc. trimmed its stake in GMS Inc. (NYSE:GMS - Free Report) by 73.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,159 shares of the company's stock after selling 941,032 shares during the quarter. Pacer Advisors Inc. owned approximately 0.90% of GMS worth $25,402,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Eukles Asset Management acquired a new position in shares of GMS in the first quarter worth $33,000. Canada Pension Plan Investment Board acquired a new position in shares of GMS in the fourth quarter worth $34,000. Versant Capital Management Inc raised its holdings in shares of GMS by 170.5% in the first quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after acquiring an additional 445 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GMS by 38.3% in the first quarter. GAMMA Investing LLC now owns 801 shares of the company's stock worth $59,000 after acquiring an additional 222 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of GMS in the fourth quarter worth $193,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GMS shares. Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada upped their target price on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 1st. Truist Financial upped their target price on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Robert W. Baird reiterated a "neutral" rating and issued a $95.00 target price (up from $93.00) on shares of GMS in a research note on Monday, June 23rd. Finally, Stephens lowered GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $101.11.

Insider Activity

In other news, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the completion of the sale, the chief operating officer owned 23,950 shares of the company's stock, valued at $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total value of $6,046,587.20. Following the completion of the sale, the insider directly owned 3,486,524 shares of the company's stock, valued at $383,691,966.20. The trade was a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 343,627 shares of company stock valued at $37,808,097 in the last ninety days. Company insiders own 1.90% of the company's stock.

GMS Trading Up 0.2%

GMS stock traded up $0.18 during trading on Friday, reaching $109.73. 994,117 shares of the stock traded hands, compared to its average volume of 2,379,002. The business's 50 day moving average price is $92.43 and its 200-day moving average price is $82.37. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $110.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. The firm has a market capitalization of $4.18 billion, a PE ratio of 37.97 and a beta of 1.71.

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

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.