Pacer Advisors Inc. Lowers Stock Position in GMS Inc. (NYSE:GMS)

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. decreased its position in GMS Inc. (NYSE:GMS - Free Report) by 73.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 347,159 shares of the company's stock after selling 941,032 shares during the period. Pacer Advisors Inc. owned approximately 0.90% of GMS worth $25,402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GMS. Eukles Asset Management purchased a new stake in shares of GMS in the 1st quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new position in GMS in the 4th quarter valued at $34,000. Versant Capital Management Inc grew its stake in 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 buying an additional 445 shares during the last quarter. GAMMA Investing LLC grew its position in GMS by 38.3% in the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock worth $59,000 after purchasing an additional 222 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in GMS in the 4th quarter worth $193,000. Institutional investors own 95.28% of the company's stock.

Insider Transactions at GMS

In other GMS news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the firm'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 transaction, the insider directly owned 3,646,018 shares of the company's stock, valued at $401,244,280.90. This trade represents a 4.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $541,150.00. Following the completion of the sale, the chief operating officer owned 23,950 shares in the company, valued at approximately $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 ninety days, insiders have sold 343,627 shares of company stock worth $37,808,097. 1.90% of the stock is owned by insiders.

GMS Stock Up 0.1%

GMS traded up $0.16 during trading hours on Wednesday, hitting $109.76. 354,275 shares of the company's stock were exchanged, compared to its average volume of 761,510. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 37.98 and a beta of 1.71. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The stock's 50-day moving average is $93.79 and its two-hundred day moving average is $82.77. GMS Inc. has a 1-year low of $65.77 and a 1-year high of $110.28.

GMS (NYSE:GMS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The company's revenue was down 5.6% on a year-over-year basis. Sell-side analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMS has been the topic of a number of recent analyst reports. Stephens lowered shares of GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target on the stock. in a research report on Friday, June 27th. Truist Financial boosted their price target on shares of GMS from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Raymond James Financial downgraded shares of GMS from an "outperform" rating to a "market perform" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada boosted their price target on shares of GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 1st. Finally, Loop Capital boosted their price target on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, GMS presently has a consensus rating of "Hold" and an average target price of $101.11.

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.