Corebridge Financial Inc. Trims Holdings in GMS Inc. (NYSE:GMS)

Corebridge Financial Inc. decreased its stake in shares of GMS Inc. (NYSE:GMS) by 8.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,014 shares of the company’s stock after selling 1,949 shares during the period. Corebridge Financial Inc. owned 0.05% of GMS worth $1,783,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. AlphaQuest LLC lifted its holdings in shares of GMS by 1,710.5% in the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock worth $29,000 after buying an additional 325 shares in the last quarter. Blue Trust Inc. increased its holdings in GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock worth $62,000 after acquiring an additional 285 shares during the period. Smartleaf Asset Management LLC lifted its stake in GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock worth $84,000 after purchasing an additional 705 shares in the last quarter. Stifel Financial Corp bought a new position in GMS in the 3rd quarter valued at $222,000. Finally, Choreo LLC grew its position in shares of GMS by 12.1% during the 4th quarter. Choreo LLC now owns 2,668 shares of the company’s stock valued at $227,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 95.28% of the company’s stock.

Insider Activity at GMS

In other news, Director Theron I. Gilliam sold 12,474 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the sale, the director now owns 31,507 shares of the company’s stock, valued at approximately $2,314,504.22. This represents a 28.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

GMS Trading Up 2.1 %

GMS stock opened at $75.29 on Thursday. The company has a market capitalization of $2.89 billion, a PE ratio of 13.84 and a beta of 1.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23. GMS Inc. has a one year low of $65.88 and a one year high of $105.54. The company’s 50 day moving average price is $78.72 and its two-hundred day moving average price is $87.12.

GMS (NYSE:GMS) last issued its earnings results on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.29 billion. As a group, analysts predict that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GMS. DA Davidson dropped their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Truist Financial dropped their price target on GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Loop Capital decreased their price objective on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Barclays dropped their target price on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Robert W. Baird decreased their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, GMS currently has a consensus rating of “Hold” and a consensus price target of $80.50.

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.