Magnetar Financial LLC Acquires Shares of 13,119 GMS Inc. (NYSE:GMS)

Magnetar Financial LLC acquired a new position in shares of GMS Inc. (NYSE:GMS) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 13,119 shares of the company’s stock, valued at approximately $1,058,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Sector Pension Investment Board lifted its holdings in shares of GMS by 7.3% during the second quarter. Public Sector Pension Investment Board now owns 87,594 shares of the company’s stock worth $7,061,000 after purchasing an additional 5,977 shares during the period. Westwood Holdings Group Inc. raised its position in GMS by 4.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock worth $59,644,000 after buying an additional 34,205 shares during the last quarter. Sei Investments Co. lifted its stake in shares of GMS by 4.7% in the 2nd quarter. Sei Investments Co. now owns 234,012 shares of the company’s stock worth $18,864,000 after acquiring an additional 10,416 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of GMS by 0.4% in the second quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock valued at $118,885,000 after acquiring an additional 6,396 shares in the last quarter. Finally, Bridges Investment Management Inc. acquired a new position in shares of GMS during the second quarter worth about $550,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GMS

In related news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $90.32, for a total value of $713,528.00. Following the sale, the senior vice president now owns 10,671 shares of the company’s stock, valued at approximately $963,804.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GMS. Robert W. Baird reduced their price objective on shares of GMS from $112.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 21st. Barclays reduced their price target on GMS from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, September 9th. Loop Capital dropped their price objective on GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Stephens reduced their target price on GMS from $112.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Finally, Truist Financial lowered their price target on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.63.

GMS Trading Up 1.0 %

Shares of GMS stock opened at $91.09 on Tuesday. The stock has a market cap of $3.61 billion, a P/E ratio of 13.53 and a beta of 1.67. 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 Inc. has a fifty-two week low of $56.58 and a fifty-two week high of $101.04. The business has a fifty day simple moving average of $89.60 and a 200-day simple moving average of $90.75.

GMS (NYSE:GMS) last posted its earnings results 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). GMS had a net margin of 4.45% and a return on equity of 22.02%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $2.40 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that GMS Inc. will post 7.95 earnings per share for the current fiscal year.

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.