Bailard Inc. Acquires Shares of 12,000 GMS Inc (NYSE:GMS)

Bailard Inc. acquired a new stake in shares of GMS Inc (NYSE:GMS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,000 shares of the company’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paloma Partners Management Co acquired a new stake in GMS during the second quarter valued at approximately $260,000. New York State Teachers Retirement System acquired a new position in shares of GMS in the 2nd quarter worth approximately $472,000. JPMorgan Chase & Co. boosted its holdings in shares of GMS by 1,213.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 139,159 shares of the company’s stock worth $2,741,000 after acquiring an additional 128,563 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of GMS by 419.9% in the 2nd quarter. Bank of Montreal Can now owns 3,296 shares of the company’s stock worth $73,000 after acquiring an additional 2,662 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of GMS by 17.5% in the 2nd quarter. Algert Global LLC now owns 66,031 shares of the company’s stock worth $1,453,000 after acquiring an additional 9,853 shares in the last quarter. 71.86% of the stock is currently owned by institutional investors.

In other GMS news, major shareholder Investors Fund V. Lp Aea sold 6,825,058 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $26.93, for a total transaction of $183,798,811.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald R. Ross sold 30,474 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $27.97, for a total value of $852,357.78. Following the transaction, the director now directly owns 285,365 shares in the company, valued at approximately $7,981,659.05. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by corporate insiders.

Shares of GMS opened at $30.73 on Wednesday. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.98, a PEG ratio of 1.37 and a beta of 2.17. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.29 and a quick ratio of 1.46. GMS Inc has a one year low of $13.61 and a one year high of $30.98. The business’s 50 day simple moving average is $28.33 and its 200-day simple moving average is $22.18.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. GMS had a return on equity of 18.99% and a net margin of 2.27%. The firm had revenue of $847.20 million for the quarter, compared to the consensus estimate of $837.65 million. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that GMS Inc will post 3.11 EPS for the current fiscal year.

GMS has been the topic of several recent analyst reports. Stephens set a $34.00 target price on GMS and gave the stock a “buy” rating in a report on Friday, August 30th. TheStreet raised GMS from a “c+” rating to a “b-” rating in a report on Friday, September 27th. SunTrust Banks boosted their target price on GMS from $23.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Seaport Global Securities reissued a “buy” rating and issued a $33.00 target price (up from $28.00) on shares of GMS in a report on Friday, August 30th. They noted that the move was a valuation call. Finally, ValuEngine downgraded GMS from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. GMS has a consensus rating of “Buy” and a consensus price target of $29.90.

GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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