Victory Capital Management Inc. Purchases 6,136 Shares of GMS Inc. (NYSE:GMS)

Victory Capital Management Inc. boosted its stake in GMS Inc. (NYSE:GMS) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,541 shares of the company’s stock after purchasing an additional 6,136 shares during the period. Victory Capital Management Inc. owned about 0.26% of GMS worth $9,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in GMS in the 1st quarter worth $814,000. CANADA LIFE ASSURANCE Co raised its stake in shares of GMS by 56.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company’s stock valued at $5,060,000 after acquiring an additional 18,799 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of GMS during the first quarter valued at approximately $77,000. Quadrature Capital Ltd raised its stake in GMS by 40.5% in the first quarter. Quadrature Capital Ltd now owns 10,593 shares of the company’s stock worth $1,031,000 after buying an additional 3,054 shares in the last quarter. Finally, LRI Investments LLC bought a new position in GMS in the first quarter worth approximately $127,000. 95.28% of the stock is currently owned by institutional investors.

GMS Price Performance

GMS stock opened at $99.22 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31. GMS Inc. has a 1 year low of $65.46 and a 1 year high of $103.56. The firm has a 50 day moving average price of $93.01 and a 200 day moving average price of $90.50. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 16.52 and a beta of 1.68.

GMS (NYSE:GMS) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.21). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.40 earnings per share. Sell-side analysts predict that GMS Inc. will post 7.95 earnings per share for the current year.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at $2,427,834.36. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GMS. StockNews.com lowered shares of GMS from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Robert W. Baird upped their price target on shares of GMS from $96.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays reduced their price target on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, September 9th. Finally, Truist Financial cut their price objective on shares of GMS from $95.00 to $90.00 and set a “hold” rating for the company in a report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.50.

About GMS

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.