GMR Solutions (NYSE:GMRS) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• GMRS edged above its 50-day moving average: Shares traded as high as $11.49 and last changed hands at $11.41, just above the $11.40 average.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $18.78, though ratings range from Strong Buy to Sell.
• The company reported quarterly EPS of -$1.84, missing the $0.38 consensus estimate, while revenue rose 3.3% year over year to $1.49 billion. Executives also sold shares to cover tax withholding on vested equity awards.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $11.40 and traded as high as $11.49. GMR Solutions shares last traded at $11.41, with a volume of 551,446 shares traded.

Wall Street Analysts Forecast Growth

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

GMR Solutions Price Performance

The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 5.50. The company has a market cap of $616.37 million and a P/E ratio of -7.31. The firm has a 50-day simple moving average of $11.40.

GMR Solutions (NYSE:GMRS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($2.22). The company had revenue of $1.49 billion during the quarter. GMR Solutions's revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that GMR Solutions Inc. will post 1.68 EPS for the current year.

Insider Transactions at GMR Solutions

In other GMR Solutions news, CFO Brian Scott Tierney sold 265,794 shares of the firm'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 $3,242,686.80. Following the transaction, the chief financial officer directly owned 554,955 shares of the company's stock, valued at $6,770,451. This trade represents a 32.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Lisa Jacoba sold 92,680 shares of GMR Solutions stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $1,130,696.00. Following the completion of the transaction, the executive vice president directly owned 198,603 shares in the company, valued at $2,422,956.60. This trade represents a 31.82% decrease in their ownership of the stock. 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 quarter, insiders sold 2,353,423 shares of company stock worth $28,711,761.

Institutional Trading of GMR Solutions

Several institutional investors and hedge funds have recently modified their holdings of GMRS. State of Wyoming acquired a new stake in GMR Solutions in the third quarter valued at about $137,000. State Street Corp acquired a new position in GMR Solutions during the second quarter worth about $2,542,000. HBK Investments L P acquired a new position in GMR Solutions during the second quarter worth about $3,092,000. Steamboat Capital Partners LLC acquired a new position in GMR Solutions during the second quarter worth about $9,184,000. Finally, Squarepoint Ops LLC acquired a new position in GMR Solutions during the second quarter worth about $801,000.

GMR Solutions Company Profile

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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