GMS Inc. $GMS Stock Position Raised by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has significantly increased its stake in GMS Inc. by 248.9%, owning 63,617 shares valued at approximately $4.65 million.
• Major shareholder Coliseum Capital Management, L sold 179,133 shares for over $19.7 million, reducing their ownership by 4.68%.
• Several analysts have adjusted their price targets for GMS, with Loop Capital increasing it to $110.00, while maintaining a "hold" rating.

Raymond James Financial Inc. increased its stake in GMS Inc. (NYSE:GMS - Free Report) by 248.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,617 shares of the company's stock after purchasing an additional 45,386 shares during the quarter. Raymond James Financial Inc. owned approximately 0.17% of GMS worth $4,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GMS. Eukles Asset Management purchased a new position in GMS in the 1st quarter worth about $33,000. Versant Capital Management Inc increased its stake in GMS by 170.5% in the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after purchasing an additional 445 shares in the last quarter. GAMMA Investing LLC increased its stake 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 in the last quarter. Jefferies Financial Group Inc. purchased a new position in GMS in the 1st quarter worth about $252,000. Finally, Brevan Howard Capital Management LP purchased a new position in GMS in the 4th quarter worth about $295,000. Hedge funds and other institutional investors own 95.28% of the company's stock.

Insider Transactions at GMS

In other news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total transaction 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. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO George T. Hendren sold 5,000 shares of the firm'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 sale, the chief operating officer directly owned 23,950 shares of the company's stock, valued at $2,592,108.50. This trade represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 343,627 shares of company stock valued at $37,808,097 over the last ninety days. Company insiders own 1.90% of the company's stock.

GMS Stock Down 0.0%

NYSE GMS traded down $0.02 during trading on Thursday, reaching $109.96. 710,652 shares of the company's stock were exchanged, compared to its average volume of 780,710. GMS Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $110.28. The firm has a market capitalization of $4.20 billion, a PE ratio of 42.29 and a beta of 1.76. The company has a current ratio of 2.11, a quick ratio of 1.31 and a debt-to-equity ratio of 0.87. The company's fifty day simple moving average is $109.71 and its 200-day simple moving average is $88.60.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.77 by ($0.01). GMS had a return on equity of 16.36% and a net margin of 1.86%.The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the business earned $1.93 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts predict that GMS Inc. will post 7.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GMS shares. Robert W. Baird reissued a "neutral" rating and issued a $95.00 price target (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Loop Capital raised their price objective on GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 1st. DA Davidson raised their price objective on GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Raymond James Financial lowered GMS from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 25th. Finally, Baird R W lowered GMS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 23rd. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $101.11.

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.