Assenagon Asset Management S.A. Raises Holdings in GMS Inc. (NYSE:GMS)

Assenagon Asset Management S.A. grew its stake in GMS Inc. (NYSE:GMS) by 42.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 110,304 shares of the company’s stock after buying an additional 33,123 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of GMS worth $9,357,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reinhart Partners LLC. lifted its stake in GMS by 2.3% in the fourth quarter. Reinhart Partners LLC. now owns 541,519 shares of the company’s stock worth $45,937,000 after acquiring an additional 12,099 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of GMS by 2.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 45,151 shares of the company’s stock valued at $3,830,000 after purchasing an additional 1,132 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of GMS by 6.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 90,374 shares of the company’s stock worth $8,185,000 after purchasing an additional 5,833 shares during the last quarter. Vestcor Inc grew its stake in shares of GMS by 71.5% during the third quarter. Vestcor Inc now owns 14,330 shares of the company’s stock worth $1,298,000 after purchasing an additional 5,972 shares in the last quarter. Finally, Barclays PLC increased its holdings in GMS by 374.0% in the third quarter. Barclays PLC now owns 70,580 shares of the company’s stock valued at $6,392,000 after buying an additional 55,690 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GMS news, COO George T. Hendren sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $102.13, for a total value of $510,650.00. Following the transaction, the chief operating officer now directly owns 23,772 shares of the company’s stock, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

GMS Stock Up 2.3 %

GMS stock opened at $84.26 on Friday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 15.49 and a beta of 1.73. The company has a fifty day moving average price of $91.80 and a 200 day moving average price of $90.51. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. GMS Inc. has a 12 month low of $77.29 and a 12 month high of $105.54.

GMS (NYSE:GMS) last announced its earnings results on Thursday, December 5th. The company reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.24). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $2.30 earnings per share. GMS’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that GMS Inc. will post 7.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial lifted their price target on GMS from $90.00 to $97.00 and gave the stock a “hold” rating in a report on Monday, December 9th. DA Davidson lowered their price target on GMS from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Friday, December 6th. Loop Capital raised their price objective on shares of GMS from $85.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, November 25th. Robert W. Baird lowered their target price on shares of GMS from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, December 6th. Finally, Barclays cut their price target on shares of GMS from $93.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $93.57.

GMS 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.