GMR Solutions (NYSE:GMRS) Shares Down 4.5% - What's Next?

Key Points

• GMR Solutions shares fell 4.5% to about $11.96 in light trading, well below the $18.78 average analyst price target. Wall Street maintains a “Moderate Buy” consensus, with ratings ranging from Sell to Strong Buy.
• The company’s latest quarterly results missed expectations sharply, reporting an adjusted loss of $1.84 per share versus the expected $0.38 profit, although revenue rose 3.3% year over year to $1.49 billion.
• Insiders sold approximately $28.7 million of stock during the last quarter, including substantial sales by the CEO and COO to cover tax obligations related to vested equity awards.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report) was down 4.5% on Monday . The company traded as low as $11.89 and last traded at $11.96. 49,060 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 881,586 shares. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GMRS. Bank of America began coverage on GMR Solutions in a report on Monday, June 8th. They issued a "buy" rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on GMR Solutions from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, September 11th. Evercore upgraded GMR Solutions to a "strong-buy" rating and set a $20.00 target price on the stock in a research report on Monday, June 8th. 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 for the company. Finally, Needham & Company LLC set a $18.00 price objective on shares of GMR Solutions in a report on Monday, June 8th. 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 stock. According to MarketBeat, GMR Solutions has a consensus rating of "Moderate Buy" and an average target price of $18.78.

GMR Solutions Stock Down 5.8%

The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $637.44 million and a P/E ratio of -7.56. The stock's 50-day moving average price is $13.08.

GMR Solutions (NYSE:GMRS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) EPS for the quarter, missing the consensus estimate of $0.38 by ($2.22). The firm had revenue of $1.49 billion for the quarter. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that GMR Solutions Inc. will post 1.2 EPS for the current fiscal year.

Insider Activity

In related news, COO Horne Edward Van sold 262,278 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 $3,199,791.60. Following the completion of the transaction, the chief operating officer directly owned 575,004 shares in the company, valued at $7,015,048.80. This trade represents a 31.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 GMR Solutions 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 directly owned 2,855,580 shares of the company's stock, valued at approximately $34,838,076. This represents a 33.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter.

Hedge Funds Weigh In On GMR Solutions

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