Short Interest in GMS Inc. (NYSE:GMS) Declines By 24.0%

GMS Inc. (NYSE:GMS - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,520,000 shares, a drop of 24.0% from the March 15th total of 2,000,000 shares. Based on an average trading volume of 453,300 shares, the short-interest ratio is currently 3.4 days. Approximately 4.0% of the company's shares are sold short.

GMS Price Performance

GMS stock traded up $2.19 during trading on Thursday, hitting $73.55. The company had a trading volume of 240,553 shares, compared to its average volume of 415,686. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average of $74.24 and a 200 day moving average of $84.92. GMS has a fifty-two week low of $65.77 and a fifty-two week high of $105.54. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 13.52 and a beta of 1.62.

GMS (NYSE:GMS - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.29 billion. As a group, research analysts predict that GMS will post 7.26 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Theron I. Gilliam sold 12,474 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. This represents a 28.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Turner, Jr. purchased 3,650 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the purchase, the chief executive officer now directly owns 66,928 shares in the company, valued at $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.

Institutional Investors Weigh In On GMS

A number of large investors have recently made changes to their positions in the company. AlphaQuest LLC raised its stake in GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company's stock valued at $29,000 after purchasing an additional 325 shares during the period. Canada Pension Plan Investment Board acquired a new position in GMS during the fourth quarter valued at $34,000. Versant Capital Management Inc lifted its stake in GMS by 170.5% in 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 in the last quarter. GAMMA Investing LLC boosted its position 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, Blue Trust Inc. lifted 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 worth $62,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 95.28% of the company's stock.

Analyst Upgrades and Downgrades

GMS has been the subject of a number of analyst reports. DA Davidson reduced their price target on GMS from $94.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Robert W. Baird dropped their price target on shares of GMS from $110.00 to $93.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada decreased their price objective on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. UBS Group set a $80.00 price target on shares of GMS in a research report on Friday, March 7th. Finally, Truist Financial lowered their price objective on GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $80.50.

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.