State Street Corp Makes New $2.54 Million Investment in GMR Solutions Inc. $GMRS

Key Points

• State Street Corp. bought 164,450 shares of GMR Solutions worth approximately $2.54 million, representing about 0.30% of the company. Several other hedge funds also initiated positions during the second quarter, including Steamboat Capital Partners’ roughly $9.18 million investment.
• Analysts maintain a generally positive outlook, with GMR Solutions receiving a consensus “Moderate Buy” rating and an average price target of $18.78, compared with the stock’s recent opening price of $11.09.
• Insiders sold significant amounts of stock, including executives selling shares to cover tax obligations; insiders sold 2.35 million shares worth $28.7 million over the past 90 days. The company also reported a quarterly EPS loss of $1.84, missing the consensus estimate of $0.38, despite revenue increasing 3.3% year over year to $1.49 billion.

State Street Corp bought a new stake in GMR Solutions Inc. (NYSE:GMRS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 164,450 shares of the company's stock, valued at approximately $2,542,000. State Street Corp owned about 0.30% of GMR Solutions at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Two Sigma Securities LLC purchased a new stake in shares of GMR Solutions in the 2nd quarter valued at approximately $169,000. Premier Path Wealth Partners LLC acquired a new stake in GMR Solutions in the 2nd quarter valued at approximately $348,000. Squarepoint Ops LLC purchased a new stake in GMR Solutions in the second quarter valued at approximately $801,000. HBK Investments L P purchased a new stake in GMR Solutions in the second quarter valued at approximately $3,092,000. Finally, Steamboat Capital Partners LLC acquired a new position in GMR Solutions during the second quarter worth $9,184,000.

Analysts Set New Price Targets

Several brokerages have commented on GMRS. Barclays initiated coverage on shares of GMR Solutions in a research report on Monday, June 8th. They issued an "overweight" rating and a $16.00 price target for the company. The Goldman Sachs Group set a $30.00 price objective on GMR Solutions in a research report on Tuesday, August 18th. Evercore upgraded GMR Solutions to a "strong-buy" rating and set a $20.00 price objective on the stock in a research note on Monday, June 8th. Citigroup started coverage on GMR Solutions in a report on Sunday, June 7th. They issued a "buy" rating and a $17.00 target price for the company. Finally, Bank of America initiated coverage on GMR Solutions in a research note on Monday, June 8th. They set a "buy" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GMR Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $18.78.

Insider Buying and Selling at GMR Solutions

In related news, CFO Brian Scott Tierney sold 265,794 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the completion of the transaction, the chief financial officer owned 554,955 shares of the company's stock, valued at approximately $6,770,451. This represents a 32.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Lisa Jacoba sold 92,680 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $1,130,696.00. Following the completion of the transaction, the executive vice president owned 198,603 shares in the company, valued at approximately $2,422,956.60. This trade represents a 31.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 2,353,423 shares of company stock worth $28,711,761.

GMR Solutions Price Performance

Shares of NYSE:GMRS opened at $11.09 on Friday. GMR Solutions Inc. has a 12 month low of $10.26 and a 12 month 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 firm has a market cap of $599.10 million and a price-to-earnings ratio of -7.11. The stock's fifty day moving average is $12.80.

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 (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The business had revenue of $1.49 billion for the quarter. The business's revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that GMR Solutions Inc. will post 1.2 EPS for the current year.

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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