Frontier Capital Management Co. LLC Sells 126,393 Shares of GMS Inc. (NYSE:GMS)

Frontier Capital Management Co. LLC trimmed its stake in shares of GMS Inc. (NYSE:GMS - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,725 shares of the company's stock after selling 126,393 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.33% of GMS worth $10,835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GMS. AlphaQuest LLC lifted its stake in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after buying an additional 325 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in GMS in the 4th quarter worth $34,000. Blue Trust Inc. increased its position in shares of GMS by 71.3% in the fourth quarter. Blue Trust Inc. now owns 685 shares of the company's stock valued at $62,000 after acquiring an additional 285 shares during the period. Smartleaf Asset Management LLC boosted its stake in GMS by 246.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 991 shares of the company's stock worth $84,000 after acquiring an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of GMS during the fourth quarter valued at approximately $193,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. The trade was a 28.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John C. Turner, Jr. bought 3,650 shares of the firm's stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $70.00 per share, with a total value of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares of the company's stock, valued at approximately $4,684,960. This trade represents a 5.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird dropped their target price on shares of GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. UBS Group set a $80.00 target price on shares of GMS in a report on Friday, March 7th. Barclays dropped their price target on shares of GMS from $80.00 to $71.00 and set an "equal weight" rating for the company in a research report on Monday, March 10th. Royal Bank of Canada cut their target price on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Friday, March 7th. Finally, Truist Financial lowered their price target on shares of GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, GMS currently has a consensus rating of "Hold" and a consensus target price of $80.50.

GMS Stock Down 0.5%

Shares of GMS traded down $0.34 during mid-day trading on Thursday, reaching $75.25. 151,497 shares of the stock traded hands, compared to its average volume of 414,007. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 13.84 and a beta of 1.66. The stock has a fifty day simple moving average of $72.80 and a 200 day simple moving average of $83.04. GMS Inc. has a 12-month low of $65.77 and a 12-month high of $105.54. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. Sell-side 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.