GMR Solutions (NYSE:GMRS) Sets New 52-Week Low - Here's Why

Key Points

• GMR Solutions shares fell 9.8% to a new 52-week low of $9.95, down from the prior close of $11.06, amid more than 1 million shares traded.
• The company reported a quarterly loss of $1.84 per share, missing the $0.38 analyst consensus by $2.22, although revenue rose 3.3% year over year to $1.49 billion.
• Despite the stock’s decline, analysts maintain a consensus “Moderate Buy” rating with an average price target of $18.78; insiders sold more than 2.35 million shares worth $28.7 million over the past 90 days, primarily to cover tax obligations on vested equity awards.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $9.95 and last traded at $9.98, with a volume of 1086376 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GMRS shares. Barclays started coverage on shares of GMR Solutions in a report on Monday, June 8th. They issued an "overweight" rating and a $16.00 price target on the stock. Evercore upgraded shares of GMR Solutions to a "strong-buy" rating and set a $20.00 price objective for the company in a research note on Monday, June 8th. Bank of America started coverage on shares of GMR Solutions in a report on Monday, June 8th. They issued a "buy" rating and a $18.00 price objective on the stock. Zacks Research upgraded shares of GMR Solutions to a "hold" rating in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of GMR Solutions from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.78.

GMR Solutions Stock Down 9.8%

The company has a market cap of $539.12 million and a PE ratio of -6.40. The firm has a 50 day moving average price of $12.74. 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 (NYSE:GMRS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share 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 company's revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that GMR Solutions Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling at GMR Solutions

In other news, EVP Thomas A. A. Cook sold 251,882 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $3,072,960.40. Following the sale, the executive vice president directly owned 675,686 shares in the company, valued at $8,243,369.20. This trade represents a 27.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of the company's stock in a transaction dated Monday, September 14th. The stock was 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 directly owned 2,855,580 shares of the company's stock, valued at $34,838,076. The trade was a 33.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 2,353,423 shares of company stock worth $28,711,761.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new stake in GMR Solutions in the 2nd quarter valued at $49,284,000. Alyeska Investment Group L.P. purchased a new position in GMR Solutions during the second quarter valued at $36,817,000. Readystate Asset Management LP acquired a new stake in shares of GMR Solutions in the second quarter valued at about $12,936,000. Steamboat Capital Partners LLC purchased a new stake in shares of GMR Solutions during the second quarter worth about $9,184,000. Finally, HBK Investments L P acquired a new position in shares of GMR Solutions during the 2nd quarter worth about $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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