GMS Inc. (NYSE:GMS) Short Interest Down 42.3% in August

Key Points

• GMS Inc. experienced a significant decline in short interest of 42.3% in August, reducing the total short interest to 525,100 shares.
• The company reported $1.76 earnings per share for the latest quarter, slightly missing analyst expectations of $1.77 while generating revenue of $1.41 billion.
• Institutional investors now own approximately 95.28% of GMS's stock, indicating strong support from large investors as shares change hands.

GMS Inc. (NYSE:GMS - Get Free Report) was the target of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 525,100 shares, adeclineof42.3% from the July 31st total of 910,100 shares. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is presently 0.4 days. Approximately1.4% of the shares of the company are short sold. Approximately1.4% of the shares of the company are short sold. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is presently 0.4 days.

GMS Trading Down 0.0%

GMS stock traded down $0.02 during mid-day trading on Friday, hitting $109.96. The stock had a trading volume of 710,652 shares, compared to its average volume of 780,710. The stock has a 50-day simple moving average of $109.64 and a two-hundred day simple moving average of $87.77. The company has a current ratio of 2.11, a quick ratio of 1.31 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.20 billion, a PE ratio of 42.29 and a beta of 1.76. GMS has a 12 month low of $65.77 and a 12 month high of $110.28.

GMS (NYSE:GMS - Get Free Report) last released its earnings results on Thursday, September 4th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.77 by ($0.01). The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. GMS had a net margin of 1.86% and a return on equity of 16.36%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, sell-side analysts forecast that GMS will post 7.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GMS. Loop Capital raised their price target on shares of GMS from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 1st. Truist Financial boosted 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. DA Davidson upped their price target on GMS from $95.20 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Barclays lifted their price objective on GMS from $95.00 to $110.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, Stephens lowered GMS from a "strong-buy" rating to a "hold" rating and set a $95.00 target price for the company. in a research note on Friday, June 27th. Nine investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $101.11.

Insider Activity at GMS

In other GMS news, major shareholder Coliseum Capital Management, L sold 54,944 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $110.05, for a total value of $6,046,587.20. Following 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GMS

Large investors have recently bought and sold shares of the business. Coliseum Capital Management LLC grew its holdings in GMS by 81.9% during the 1st quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company's stock worth $251,521,000 after acquiring an additional 1,547,999 shares during the period. HBK Investments L P acquired a new stake in shares of GMS during the second quarter worth $76,638,000. Sculptor Capital LP acquired a new stake in shares of GMS during the second quarter worth $54,375,000. Neuberger Berman Group LLC bought a new stake in GMS in the second quarter valued at about $31,023,000. Finally, Alpine Associates Management Inc. acquired a new position in GMS in the second quarter valued at about $23,925,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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