Readystate Asset Management LP Makes New Investment in GMR Solutions Inc. $GMRS

Key Points

• Readystate Asset Management acquired 836,713 GMR Solutions shares worth approximately $12.9 million, representing about 1.55% of the company. Alyeska Investment Group also made a significant new investment valued at roughly $36.8 million.
• GMR Solutions reported quarterly revenue of $1.49 billion, up 3.3% year over year, but posted a loss of $1.84 per share, missing the consensus estimate of $0.38 earnings per share.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $18.67, compared with the stock’s recent price of $13.48.

Readystate Asset Management LP bought a new stake in GMR Solutions Inc. (NYSE:GMRS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 836,713 shares of the company's stock, valued at approximately $12,936,000. Readystate Asset Management LP owned about 1.55% of GMR Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new stake in shares of GMR Solutions during the 2nd quarter worth approximately $169,000. Premier Path Wealth Partners LLC acquired a new position in GMR Solutions in the second quarter valued at approximately $348,000. Finally, Alyeska Investment Group L.P. purchased a new position in GMR Solutions in the second quarter worth approximately $36,817,000.

GMR Solutions Stock Up 0.1%

Shares of GMR Solutions stock opened at $13.48 on Monday. The stock has a market capitalization of $728.19 million and a price-to-earnings ratio of -8.64. GMR Solutions Inc. has a 52 week low of $10.26 and a 52 week high of $15.98. The company has a debt-to-equity ratio of 5.50, a current ratio of 2.01 and a quick ratio of 2.01. The company has a 50 day moving average of $13.49.

GMR Solutions (NYSE:GMRS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($2.22). The firm had revenue of $1.49 billion for the quarter. The company's revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that GMR Solutions Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on GMRS. Barclays initiated coverage on GMR Solutions in a research report on Monday, June 8th. They issued an "overweight" rating and a $16.00 target price on the stock. JPMorgan Chase & Co. began coverage on GMR Solutions in a research note on Monday, June 8th. They issued an "overweight" rating and a $15.00 price objective for the company. Morgan Stanley assumed coverage on shares of GMR Solutions in a research note on Monday, June 8th. They set an "equal weight" rating and a $14.00 target price on the stock. Citigroup initiated coverage on GMR Solutions in a research report on Sunday, June 7th. They issued a "buy" rating and a $17.00 price target on the stock. Finally, Needham & Company LLC set a $18.00 price objective on shares of GMR Solutions in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

GMR Solutions Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.

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