GMS Inc. $GMS Position Lifted 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. lifted its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 248.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,617 shares of the company's stock after purchasing an additional 45,386 shares during the quarter. Raymond James Financial Inc. owned about 0.17% of GMS worth $4,655,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Yousif Capital Management LLC boosted its stake in GMS by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 15,143 shares of the company's stock worth $1,108,000 after buying an additional 147 shares during the last quarter. Vise Technologies Inc. grew its holdings in GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company's stock valued at $601,000 after buying an additional 162 shares during the period. SummerHaven Investment Management LLC grew its holdings in GMS by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 9,776 shares of the company's stock valued at $715,000 after buying an additional 171 shares during the period. Sherbrooke Park Advisers LLC grew its holdings in GMS by 4.0% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company's stock valued at $470,000 after buying an additional 211 shares during the period. Finally, GAMMA Investing LLC grew its holdings in GMS by 38.3% in the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock valued at $59,000 after buying an additional 222 shares during the period. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GMS shares. Truist Financial lifted their price target on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. Robert W. Baird reissued a "neutral" rating and set a $95.00 price target (up previously from $93.00) on shares of GMS in a research report on Monday, June 23rd. Royal Bank Of Canada upped their price target on GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 1st. Stephens downgraded GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price objective on the stock. in a report on Friday, June 27th. Finally, Baird R W cut GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Nine research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $101.11.

GMS Stock Down 0.0%

Shares of GMS stock traded down $0.02 on Tuesday, hitting $109.96. The stock had a trading volume of 710,652 shares, compared to its average volume of 780,710. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 42.29 and a beta of 1.76. The stock's 50 day moving average is $109.66 and its 200-day moving average is $88.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.31 and a current ratio of 2.11. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $110.28.

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

Insider Activity

In related news, COO George T. Hendren sold 5,000 shares of the 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 transaction, the chief operating officer owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Coliseum Capital Management, L sold 179,133 shares of GMS stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $110.05, for a total value of $19,713,586.65. Following the sale, the insider owned 3,646,018 shares in the company, valued at $401,244,280.90. This represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,627 shares of company stock worth $37,808,097. Insiders own 1.90% of the company's stock.

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.