GMR Solutions (NYSE:GMRS) Reaches New 12-Month Low – Here’s What Happened

GMR Solutions Inc. (NYSE:GMRS)’s share price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $9.95 and last traded at $9.98, with a volume of 1086376 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

A number of research firms have recently issued reports on GMRS. Weiss Ratings initiated coverage on shares of GMR Solutions in a research report on Friday, August 14th. They issued a “sell (d)” rating for the company. Evercore raised shares of GMR Solutions to a “strong-buy” rating and set a $20.00 price objective on the stock in a research report on Monday, June 8th. Barclays began coverage on shares of GMR Solutions in a research note on Monday, June 8th. They issued an “overweight” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Finally, The Goldman Sachs Group set a $30.00 target price on shares of GMR Solutions in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.78.

GMR Solutions Trading Down 1.5%

The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The firm’s fifty day simple moving average is $12.62. The firm has a market cap of $523.45 million and a price-to-earnings ratio of -6.21.

GMR Solutions (NYSE:GMRS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($2.22). The company had revenue of $1.49 billion for the quarter. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts predict that GMR Solutions Inc. will post 1.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lisa Jacoba sold 92,680 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $1,130,696.00. Following the transaction, the executive vice president owned 198,603 shares of the company’s stock, valued at approximately $2,422,956.60. This represents a 31.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Thomas A. A. Cook sold 251,882 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,072,960.40. Following the completion of the transaction, the executive vice president directly owned 675,686 shares in the company, valued at $8,243,369.20. The trade was a 27.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 2,353,423 shares of company stock valued at $28,711,761.

Hedge Funds Weigh In On GMR Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new stake in shares of GMR Solutions in the second quarter worth $36,817,000. HBK Investments L P bought a new stake in shares of GMR Solutions during the 2nd quarter worth $3,092,000. State Street Corp acquired a new position in GMR Solutions in the 2nd quarter valued at $2,542,000. Readystate Asset Management LP acquired a new position in GMR Solutions in the 2nd quarter valued at $12,936,000. Finally, Citadel Advisors LLC bought a new position in GMR Solutions in the 2nd quarter worth $49,284,000.

GMR Solutions Company Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.