Quadrature Capital Ltd Raises Stock Position in GMS Inc. (NYSE:GMS)

Quadrature Capital Ltd lifted its stake in GMS Inc. (NYSE:GMS) by 59.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,905 shares of the company’s stock after buying an additional 2,190 shares during the period. Quadrature Capital Ltd’s holdings in GMS were worth $535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in GMS by 6.4% in the third quarter. Victory Capital Management Inc. now owns 101,541 shares of the company’s stock valued at $9,197,000 after acquiring an additional 6,136 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of GMS by 148.8% in the 3rd quarter. Intech Investment Management LLC now owns 16,511 shares of the company’s stock valued at $1,495,000 after purchasing an additional 9,876 shares during the period. Algert Global LLC grew its stake in GMS by 22.8% during the 2nd quarter. Algert Global LLC now owns 151,535 shares of the company’s stock worth $12,215,000 after buying an additional 28,137 shares during the last quarter. Pacer Advisors Inc. increased its position in GMS by 0.4% during the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after buying an additional 6,396 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in GMS by 61.1% during the third quarter. Rockefeller Capital Management L.P. now owns 37,359 shares of the company’s stock worth $3,384,000 after buying an additional 14,174 shares during the period. 95.28% of the stock is currently owned by institutional investors and hedge funds.

GMS Price Performance

Shares of NYSE:GMS opened at $97.05 on Monday. GMS Inc. has a 52 week low of $68.13 and a 52 week high of $105.54. The company has a 50-day moving average price of $95.68 and a 200 day moving average price of $90.98. The company has a market cap of $3.81 billion, a P/E ratio of 17.84 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90.

GMS (NYSE:GMS) last posted its quarterly earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.24). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $2.30 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts predict that GMS Inc. will post 7.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GMS. Loop Capital raised their target price on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price objective (up from $78.00) on shares of GMS in a research report on Friday. StockNews.com cut shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird lowered their price target on GMS from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Truist Financial reduced their price objective on GMS from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.25.

Insiders Place Their Bets

In other news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. This trade represents a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

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.