GMR Solutions Inc.'s (NYSE:GMRS) Lock-Up Period To End on November 9th

Key Points

• GMR Solutions’ lock-up period expires November 9, allowing major shareholders and insiders to sell shares. The company issued 31.9 million shares in its May public offering at $15 each, totaling approximately $478.7 million.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $18.78, although ratings range from Strong Buy to Sell.
• GMRS shares opened at $11.16, while the company recently reported a quarterly loss of $1.84 per share versus a $0.38 consensus estimate. Insiders have sold approximately $28.7 million of stock over the past 90 days, citing tax-withholding obligations for the disclosed executive sales.

GMR Solutions' (NYSE:GMRS - Get Free Report) lock-up period will expire on Monday, November 9th. GMR Solutions had issued 31,914,893 shares in its public offering on May 13th. The total size of the offering was $478,723,395 based on an initial share price of $15.00. After the end of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of GMR Solutions from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, September 11th. The Goldman Sachs Group set a $30.00 price target on shares of GMR Solutions in a research report on Tuesday, August 18th. Finally, Weiss Ratings started coverage on GMR Solutions in a research note on Friday, August 14th. They issued a "sell (d)" rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.78.

GMR Solutions Price Performance

GMRS stock opened at $11.16 on Monday. The company has a market capitalization of $602.86 million and a P/E ratio of -7.15. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 5.50. GMR Solutions has a 1 year low of $8.99 and a 1 year high of $15.98. The business has a 50-day moving average of $11.48.

GMR Solutions (NYSE:GMRS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The company had revenue of $1.49 billion during the quarter. The business's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that GMR Solutions will post 1.68 earnings per share for the current fiscal year.

Insider Activity at GMR Solutions

In other GMR Solutions news, CEO Nicola Loporcaro sold 1,457,102 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $17,776,644.40. Following the completion of the transaction, the chief executive officer owned 2,855,580 shares in the company, valued at approximately $34,838,076. This represents a 33.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Scott Tierney sold 265,794 shares of GMR Solutions stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the transaction, the chief financial officer owned 554,955 shares in the company, valued at approximately $6,770,451. The trade was a 32.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,353,423 shares of company stock worth $28,711,761 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GMRS. Citadel Advisors LLC bought a new position in GMR Solutions in the second quarter valued at about $49,284,000. Alyeska Investment Group L.P. bought a new position in shares of GMR Solutions in the second quarter worth $36,817,000. Readystate Asset Management LP bought a new position in shares of GMR Solutions during the 2nd quarter valued at $12,936,000. Steamboat Capital Partners LLC bought a new position in GMR Solutions in the 2nd quarter worth $9,184,000. Finally, HBK Investments L P bought a new position in GMR Solutions during the 2nd quarter valued at approximately $3,092,000.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.

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