GMR Solutions (NYSE:GMRS) Stock Price Down 6.7% - Here's Why

Key Points

• GMR Solutions shares fell 6.7% to approximately $10.32, with trading volume down 61% from the stock’s average session volume.
• The company reported a quarterly loss of $1.84 per share, missing analyst expectations of $0.38, although revenue rose 3.3% year over year to $1.49 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an $18.78 price target, while insiders sold approximately $28.7 million in shares during the past quarter, including a $17.8 million sale by the CEO.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report) shares traded down 6.7% on Monday. The stock traded as low as $10.30 and last traded at $10.32. 340,533 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 883,274 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on GMR Solutions from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, September 11th. Weiss Ratings initiated coverage on shares of GMR Solutions in a report on Friday, August 14th. They issued a "sell (d)" rating for the company. Bank of America started coverage on GMR Solutions in a research report on Monday, June 8th. They set a "buy" rating and a $18.00 price objective on the stock. The Goldman Sachs Group set a $30.00 price target on shares of GMR Solutions in a research report on Tuesday, August 18th. Finally, Morgan Stanley started coverage on GMR Solutions in a research report on Monday, June 8th. They set an "equal weight" rating and a $14.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.78.

GMR Solutions Stock Down 8.9%

The company has a market capitalization of $544.52 million and a price-to-earnings ratio of -6.46. 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 firm's fifty day moving average is $12.80.

GMR Solutions (NYSE:GMRS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($2.22). The company had revenue of $1.49 billion for the quarter. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that GMR Solutions Inc. will post 1.2 EPS for the current year.

Insider Buying and Selling at GMR Solutions

In related news, CAO Jessica Hall sold 23,687 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 $288,981.40. Following the completion of the sale, the chief accounting officer owned 62,566 shares in the company, valued at approximately $763,305.20. This represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 the 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 in the company, valued at $34,838,076. The trade was a 33.79% decrease in their position. 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 sold 2,353,423 shares of company stock valued at $28,711,761 over the last quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC bought a new stake in GMR Solutions in the second quarter valued at approximately $169,000. Premier Path Wealth Partners LLC bought a new position in shares of GMR Solutions during the second quarter worth $348,000. Squarepoint Ops LLC bought a new position in shares of GMR Solutions during the second quarter worth $801,000. State Street Corp acquired a new position in shares of GMR Solutions in the 2nd quarter valued at $2,542,000. Finally, HBK Investments L P acquired a new position in shares of GMR Solutions in the 2nd quarter valued at $3,092,000.

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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