Renaissance Technologies LLC Has $5.36 Million Stock Holdings in GMS Inc. (NYSE:GMS)

Renaissance Technologies LLC lowered its stake in GMS Inc. (NYSE:GMS - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,200 shares of the company's stock after selling 87,600 shares during the quarter. Renaissance Technologies LLC owned about 0.16% of GMS worth $5,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GMS. FMR LLC grew its position in shares of GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after buying an additional 1,636,612 shares during the period. Pacer Advisors Inc. bought a new stake in GMS in the fourth quarter valued at approximately $109,277,000. Charles Schwab Investment Management Inc. boosted its position in shares of GMS by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company's stock worth $51,722,000 after purchasing an additional 15,664 shares in the last quarter. Reinhart Partners LLC. boosted its position in shares of GMS by 2.3% during the fourth quarter. Reinhart Partners LLC. now owns 541,519 shares of the company's stock worth $45,937,000 after purchasing an additional 12,099 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of GMS by 29.1% in the 4th quarter. JPMorgan Chase & Co. now owns 274,559 shares of the company's stock valued at $23,291,000 after buying an additional 61,842 shares during the period. 95.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GMS news, Director Theron I. Gilliam sold 12,474 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares in the company, valued at $2,314,504.22. This trade represents a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Turner, Jr. purchased 3,650 shares of the stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the transaction, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. The trade was a 5.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

GMS Stock Down 1.0 %

NYSE GMS traded down $0.72 during trading on Friday, hitting $72.81. The stock had a trading volume of 26,094 shares, compared to its average volume of 414,143. The company has a market capitalization of $2.80 billion, a PE ratio of 13.39 and a beta of 1.62. GMS Inc. has a 12 month low of $65.77 and a 12 month high of $105.54. The company's 50-day moving average price is $74.05 and its two-hundred day moving average price is $84.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23.

GMS (NYSE:GMS - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. As a group, sell-side analysts forecast that GMS Inc. will post 7.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on GMS. Barclays reduced their target price on GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th. Royal Bank of Canada cut their price objective on GMS from $82.00 to $65.00 and set a "sector perform" rating on the stock in a report on Friday, March 7th. UBS Group set a $80.00 target price on GMS in a research note on Friday, March 7th. Loop Capital cut their price target on shares of GMS from $93.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. Finally, Truist Financial reduced their price target on shares of GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, GMS presently has a consensus rating of "Hold" and a consensus target price of $80.50.

GMS Company Profile

GMS Inc distributes wallboard, ceilings, steel framing and complementary construction products in the United States and Canada. The company offers ceilings products, including suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and various other commercial and institutional buildings.