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.
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.
Read More: Why is cost of goods sold important?
Want to see what other hedge funds are holding GMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GMS Inc (NYSE:GMS).
Receive News & Ratings for GMS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GMS and related companies with MarketBeat.com's FREE daily email newsletter.