Westwood Holdings Group Inc. Boosts Holdings in GMS Inc. (NYSE:GMS)

Key Points

• Westwood Holdings Group Inc. increased its stake in GMS Inc. by 29.4% during the first quarter, bringing its total ownership to approximately 933,262 shares worth $68.29 million.
• Several institutional investors, including PNC Financial Services and LSV Asset Management, significantly increased their holdings in GMS during the same period, showcasing strong institutional interest.
• Analysts have generally downgraded GMS, with the stock currently holding an average rating of "Hold" and various target prices raised to around $110.

Westwood Holdings Group Inc. lifted its holdings in shares of GMS Inc. (NYSE:GMS - Free Report) by 29.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,262 shares of the company's stock after buying an additional 212,128 shares during the quarter. Westwood Holdings Group Inc. owned about 2.43% of GMS worth $68,287,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Eukles Asset Management bought a new stake in GMS during the 1st quarter worth approximately $33,000. Canada Pension Plan Investment Board bought a new stake in GMS during the 4th quarter worth approximately $34,000. Versant Capital Management Inc increased its holdings in GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company's stock worth $52,000 after acquiring an additional 445 shares during the period. GAMMA Investing LLC increased its holdings in GMS by 38.3% during the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company's stock worth $59,000 after acquiring an additional 222 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in GMS during the 1st quarter worth approximately $252,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial lowered shares of GMS from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 25th. Baird R W lowered shares of GMS from a "strong-buy" rating to a "hold" rating in a report on Monday, June 23rd. Loop Capital raised their price objective on shares of GMS from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Truist Financial raised their price objective on shares of GMS from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 1st. Finally, Robert W. Baird restated a "neutral" rating and set a $95.00 price objective (up previously from $93.00) on shares of GMS in a research report on Monday, June 23rd. Ten research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.11.

Insider Buying and Selling at GMS

In other GMS news, major shareholder Coliseum Capital Management, L sold 179,133 shares of the firm's stock in a transaction on Monday, July 14th. The shares were 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 of the company's stock, valued at $401,244,280.90. This trade represents a 4.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO George T. Hendren sold 5,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $108.23, for a total transaction of $541,150.00. Following the completion of the sale, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 343,627 shares of company stock worth $37,808,097. 1.90% of the stock is owned by insiders.

GMS Trading Down 0.1%

Shares of GMS stock traded down $0.08 on Friday, hitting $109.42. 823,471 shares of the company's stock traded hands, compared to its average volume of 1,525,271. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.91. GMS Inc. has a one year low of $65.77 and a one year high of $110.28. The company's fifty day simple moving average is $99.36 and its 200 day simple moving average is $84.22. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 37.86 and a beta of 1.76.

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

About GMS

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.