Vanguard Group Inc. Sells 505,513 Shares of GMS Inc. $GMS

Key Points

• Vanguard Group Inc. reduced its holdings in GMS Inc. by 9.9%, owning 4,605,463 shares valued at approximately $336.98 million after selling 505,513 shares in the 1st quarter.
• Research analysts forecast a mixed outlook for GMS shares, with some analysts upgrading their price targets to $110.00 while others downgraded their ratings to "hold" amidst an average price target consensus of $101.11.
• GMS reported earnings of $1.29 per share for the last quarter, surpassing analysts' expectations, despite a 5.6% decline in revenue compared to the same period last year.

Vanguard Group Inc. lowered its position in shares of GMS Inc. (NYSE:GMS - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,605,463 shares of the company's stock after selling 505,513 shares during the period. Vanguard Group Inc. owned 12.00% of GMS worth $336,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eukles Asset Management acquired a new position in GMS in the 1st quarter valued at $33,000. Canada Pension Plan Investment Board acquired a new position in GMS in the 4th quarter valued at $34,000. Versant Capital Management Inc raised its holdings in GMS by 170.5% in the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock valued at $52,000 after acquiring an additional 445 shares in the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 222 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in GMS in the 1st quarter valued at $252,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of the company'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 owned 23,950 shares in the company, valued at approximately $2,592,108.50. The trade was a 17.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total value of $6,046,587.20. Following the completion of the sale, the insider owned 3,486,524 shares in the company, valued at $383,691,966.20. This trade represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 343,627 shares of company stock worth $37,808,097 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GMS. Raymond James Financial cut GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Loop Capital lifted their price objective on GMS from $95.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, July 1st. 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. Truist Financial lifted their price target on GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Tuesday, July 1st. Finally, DA Davidson lifted their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Nine analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $101.11.

GMS Price Performance

GMS stock traded down $0.0250 during midday trading on Tuesday, reaching $109.4750. 481,099 shares of the stock were exchanged, compared to its average volume of 779,177. The stock has a market capitalization of $4.17 billion, a PE ratio of 37.88 and a beta of 1.76. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $110.28. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.91 and a quick ratio of 1.17. The company has a fifty day moving average price of $103.24 and a 200 day moving average price of $85.26.

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

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.