Algert Global LLC Sells 132,548 Shares of GMS Inc. (NYSE:GMS)

Algert Global LLC trimmed its position in GMS Inc. (NYSE:GMS) by 87.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 18,987 shares of the company’s stock after selling 132,548 shares during the period. Algert Global LLC’s holdings in GMS were worth $1,720,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. increased its position in GMS by 28.5% in the second quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after purchasing an additional 406,406 shares during the period. Pacer Advisors Inc. boosted its stake in 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 during the last quarter. Federated Hermes Inc. grew its stake in shares of GMS by 0.9% during the second quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock worth $85,128,000 after purchasing an additional 9,516 shares during the period. Westwood Holdings Group Inc. grew its position in shares of 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 period. Finally, LSV Asset Management grew its position in shares of GMS by 103.0% during the 2nd quarter. LSV Asset Management now owns 690,820 shares of the company’s stock worth $55,687,000 after buying an additional 350,478 shares during the period. Institutional investors own 95.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GMS shares. Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, September 9th. DA Davidson lowered shares of GMS from a “buy” rating to a “neutral” rating and set a $97.00 price target for the company. in a report on Tuesday. StockNews.com downgraded GMS from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Loop Capital boosted their target price on GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research note on Monday. Finally, Truist Financial dropped their price target on GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, GMS currently has a consensus rating of “Hold” and an average price target of $92.50.

Insider Transactions at GMS

In related news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $102.13, for a total value of $510,650.00. Following the sale, the chief operating officer now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

GMS Stock Performance

Shares of GMS stock opened at $100.22 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 16.71 and a beta of 1.68. GMS Inc. has a one year low of $65.46 and a one year high of $105.54. The stock’s 50-day moving average is $94.12 and its 200-day moving average is $90.66.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, August 29th. The company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The firm 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%. During the same period last year, the company earned $2.40 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict 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.