Peregrine Capital Management LLC Trims Stock Position in GMS Inc. (NYSE:GMS)

Peregrine Capital Management LLC lowered its position in GMS Inc. (NYSE:GMS - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,541 shares of the company's stock after selling 5,089 shares during the period. Peregrine Capital Management LLC owned 0.24% of GMS worth $6,771,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock valued at $84,000 after acquiring an additional 705 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of GMS during the 1st quarter valued at about $442,000. Yousif Capital Management LLC increased its holdings in shares of GMS by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock valued at $1,108,000 after acquiring an additional 147 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after acquiring an additional 325 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of GMS by 26.7% during the 4th quarter. Deutsche Bank AG now owns 49,222 shares of the company's stock valued at $4,176,000 after acquiring an additional 10,377 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company's stock.

Analyst Upgrades and Downgrades

GMS has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on GMS from $95.20 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday. DA Davidson raised their target price on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a report on Tuesday. UBS Group set a $80.00 target price on GMS in a report on Friday, March 7th. Truist Financial raised their target price on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Stephens lowered GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price on the stock. in a report on Friday, June 27th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $101.11.

Insider Activity

In other GMS news, CEO John C. Turner, Jr. bought 3,650 shares of GMS stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, with a total value of $255,500.00. Following the acquisition, the chief executive officer directly owned 66,928 shares of the company's stock, valued at $4,684,960. The trade was a 5.77% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO George T. Hendren sold 5,000 shares of the company's stock in a transaction 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 directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

GMS Stock Up 0.3%

GMS stock traded up $0.37 during mid-day trading on Wednesday, reaching $109.13. The company's stock had a trading volume of 6,116,567 shares, compared to its average volume of 513,390. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 37.76 and a beta of 1.71. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $109.61. The business's 50 day simple moving average is $80.51 and its 200 day simple moving average is $79.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91.

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