Summit Securities Group LLC Invests $228,000 in GMS Inc. (NYSE:GMS)

Key Points

• Summit Securities Group LLC invested approximately $228,000 in GMS Inc. by acquiring 3,112 shares in the 1st quarter, marking a new position for the institutional investor.
• GMS Inc. recently reported $1.29 earnings per share for the quarter, surpassing analysts' expectations, although quarterly revenue was down 5.6% compared to the previous year.
• Several hedge funds have increased their stakes in GMS, with ownership among institutional investors now at 95.28%.

Summit Securities Group LLC acquired a new position in GMS Inc. (NYSE:GMS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,112 shares of the company's stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of GMS by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,021 shares of the company's stock worth $157,609,000 after purchasing an additional 31,230 shares in the last quarter. Coliseum Capital Management LLC increased its stake in shares of GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock worth $160,285,000 after purchasing an additional 1,085,551 shares in the last quarter. American Century Companies Inc. increased its stake in shares of GMS by 12.9% in the 1st quarter. American Century Companies Inc. now owns 1,660,194 shares of the company's stock worth $121,476,000 after purchasing an additional 189,760 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of GMS by 29.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company's stock worth $68,287,000 after purchasing an additional 212,128 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of GMS by 4.9% in the 1st quarter. LSV Asset Management now owns 668,420 shares of the company's stock worth $48,908,000 after purchasing an additional 31,200 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

GMS Trading Down 0.2%

Shares of GMS stock opened at $109.41 on Friday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 37.86 and a beta of 1.76. The business has a 50-day moving average price of $102.63 and a 200-day moving average price of $85.09. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28.

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

Insider Transactions at GMS

In other news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $110.05, for a total transaction of $19,713,586.65. Following the completion of the transaction, the insider owned 3,646,018 shares in the company, valued at $401,244,280.90. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO George T. Hendren sold 5,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $108.23, for a total value of $541,150.00. Following the transaction, the chief operating officer owned 23,950 shares of the company's stock, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,627 shares of company stock valued at $37,808,097. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GMS. Royal Bank Of Canada upped their price objective on GMS from $95.20 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 1st. Truist Financial increased their price target on GMS from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Loop Capital increased their price target on GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 1st. Barclays increased their price target on GMS from $95.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Finally, Robert W. Baird reiterated 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. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.

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