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

Key Points

• GMRS shares fell sharply at the open, dropping from a prior close of $12.44 to $11.35 before last trading at $11.42.
• GMR Solutions reported quarterly EPS of -$1.84, missing the $0.38 consensus estimate; revenue was $1.49 billion, up 3.3% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $18.78. Company executives also sold shares to cover tax withholding on vested equity awards.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $12.44, but opened at $11.35. GMR Solutions shares last traded at $11.42, with a volume of 500,804 shares changing hands.

Analyst Ratings Changes

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

GMR Solutions Price Performance

The stock has a market cap of $596.92 million and a price-to-earnings ratio of -7.08. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. The business has a fifty day moving average price of $11.38.

GMR Solutions (NYSE:GMRS - Get Free Report) last posted 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 company had revenue of $1.49 billion during the quarter. The firm's revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nicola Loporcaro sold 1,457,102 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 2,855,580 shares of the company's stock, valued at approximately $34,838,076. This represents a 33.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of GMR Solutions stock in a transaction on 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 approximately $7,015,048.80. The trade was a 31.32% 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. In the last three months, insiders sold 2,353,423 shares of company stock valued at $28,711,761.

Institutional Inflows and Outflows

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