Assenagon Asset Management S.A. Decreases Stake in GMS Inc. $GMS

Assenagon Asset Management S.A. lessened its stake in GMS Inc. (NYSE:GMS) by 30.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,778 shares of the company’s stock after selling 6,149 shares during the quarter. Assenagon Asset Management S.A.’s holdings in GMS were worth $1,498,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Coliseum Capital Management LLC boosted its stake in shares of GMS by 81.9% in the 1st quarter. Coliseum Capital Management LLC now owns 3,437,488 shares of the company’s stock valued at $251,521,000 after buying an additional 1,547,999 shares during the period. Dimensional Fund Advisors LP raised its position in shares of GMS by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,154,021 shares of the company’s stock worth $157,609,000 after acquiring an additional 31,230 shares in the last quarter. American Century Companies Inc. raised its position in shares of GMS by 12.9% during the 1st quarter. American Century Companies Inc. now owns 1,660,194 shares of the company’s stock worth $121,476,000 after acquiring an additional 189,760 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of GMS by 29.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 933,262 shares of the company’s stock worth $68,287,000 after acquiring an additional 212,128 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of GMS by 4.9% during the 1st quarter. LSV Asset Management now owns 668,420 shares of the company’s stock worth $48,908,000 after acquiring an additional 31,200 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Insider Activity at GMS

In other GMS news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $108.23, for a total value of $541,150.00. Following the transaction, the chief operating officer directly owned 23,950 shares in the company, valued at approximately $2,592,108.50. This trade represents a 17.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Coliseum Capital Management, L sold 179,133 shares of GMS stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $110.05, for a total value of $19,713,586.65. Following the completion of the transaction, the insider owned 3,646,018 shares in the company, valued at $401,244,280.90. This trade represents a 4.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 343,627 shares of company stock worth $37,808,097 over the last quarter. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Loop Capital raised their target price on GMS from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, July 1st. Truist Financial raised their target price on GMS from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, July 1st. Baird R W lowered GMS from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 23rd. DA Davidson raised their target price on GMS from $95.20 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. Finally, Stephens lowered GMS from a “strong-buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, June 27th. Nine equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.11.

GMS Trading Down 0.0%

GMS opened at $109.96 on Friday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 42.29 and a beta of 1.76. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $110.28. The business’s 50 day moving average is $109.77 and its two-hundred day moving average is $91.11. The company has a quick ratio of 1.31, a current ratio of 2.11 and a debt-to-equity ratio of 0.87.

GMS (NYSE:GMS) last released its quarterly earnings results on Thursday, September 4th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.01). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. GMS had a return on equity of 16.36% and a net margin of 1.86%.The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.93 EPS. On average, research analysts predict that GMS Inc. will post 7.26 EPS for the current 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.