Zimmer Partners LP Raises Stake in GMS Inc. $GMS

Key Points

• Zimmer Partners LP increased its position in GMS Inc. by 33.4%, acquiring an additional 25,050 shares to total 100,050 shares, valued at approximately $7.32 million.
• GMS Inc. reported a quarterly EPS of $1.76, slightly missing analysts' expectations, despite generating revenues of $1.41 billion.
• Shares of GMS opened at $109.96 with a market cap of $4.20 billion, and analysts currently have a consensus hold rating with a target price averaging $101.11.

Zimmer Partners LP increased its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,050 shares of the company's stock after purchasing an additional 25,050 shares during the quarter. Zimmer Partners LP owned 0.26% of GMS worth $7,321,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brevan Howard Capital Management LP acquired a new stake in GMS in the fourth quarter valued at $295,000. Deutsche Bank AG lifted its holdings in GMS by 26.7% in the fourth quarter. Deutsche Bank AG now owns 49,222 shares of the company's stock valued at $4,176,000 after acquiring an additional 10,377 shares during the period. Janus Henderson Group PLC lifted its holdings in GMS by 14.8% in the fourth quarter. Janus Henderson Group PLC now owns 77,497 shares of the company's stock valued at $6,575,000 after acquiring an additional 10,016 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in GMS by 2.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,474 shares of the company's stock valued at $1,906,000 after acquiring an additional 561 shares during the period. Finally, Man Group plc raised its stake in shares of GMS by 1,329.0% during the 4th quarter. Man Group plc now owns 34,138 shares of the company's stock worth $2,896,000 after buying an additional 31,749 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

GMS Price Performance

GMS stock traded down $0.02 during midday trading on Friday, reaching $109.96. 710,652 shares of the company were exchanged, compared to its average volume of 780,710. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 42.29 and a beta of 1.76. The firm's 50-day simple moving average is $109.71 and its 200-day simple moving average is $88.80. GMS Inc. has a 1 year low of $65.77 and a 1 year high of $110.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.31 and a current ratio of 2.11.

GMS (NYSE:GMS - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.01). The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.40 billion. GMS had a net margin of 1.86% and a return on equity of 16.36%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 EPS. On average, analysts anticipate that GMS Inc. will post 7.26 EPS for the current year.

Insider Activity

In other GMS news, COO George T. Hendren sold 5,000 shares of GMS 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 completion of the sale, the chief operating officer owned 23,950 shares in the company, valued at $2,592,108.50. The trade was a 17.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of GMS 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 of the company's stock, 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 valued at $37,808,097 in the last 90 days. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GMS. DA Davidson lifted their price target on GMS from $95.20 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Stephens downgraded GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 price target for the company. in a research note on Friday, June 27th. Truist Financial lifted 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. Robert W. Baird reaffirmed a "neutral" rating and set a $95.00 price target (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Finally, Baird R W downgraded GMS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 23rd. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, GMS has a consensus rating of "Hold" and a consensus price target of $101.11.

GMS Company 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.