Insider Buying: GMS Inc. (NYSE:GMS) CEO Buys $255,500.00 in Stock

GMS Inc. (NYSE:GMS) CEO John C. Turner, Jr. bought 3,650 shares of GMS stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $70.00 per share, with a total value of $255,500.00. Following the purchase, the chief executive officer now owns 66,928 shares of the company’s stock, valued at $4,684,960. This trade represents a 5.77 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

GMS Trading Down 2.5 %

Shares of GMS stock opened at $71.85 on Friday. GMS Inc. has a 12-month low of $65.77 and a 12-month high of $105.54. The stock has a market capitalization of $2.76 billion, a P/E ratio of 13.21 and a beta of 1.62. The company has a 50-day simple moving average of $76.51 and a 200 day simple moving average of $86.04. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.47). The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. Research analysts expect that GMS Inc. will post 7.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GMS

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of GMS by 10,022.5% during the first quarter. GAMMA Investing LLC now owns 58,609 shares of the company’s stock worth $4,288,000 after purchasing an additional 58,030 shares during the last quarter. Versant Capital Management Inc grew its holdings in GMS by 170.5% during the 1st quarter. Versant Capital Management Inc now owns 706 shares of the company’s stock worth $52,000 after acquiring an additional 445 shares during the last quarter. Vise Technologies Inc. increased its position in GMS by 2.3% in the 4th quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock valued at $601,000 after acquiring an additional 162 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GMS by 24.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company’s stock worth $8,006,000 after acquiring an additional 18,598 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of GMS during the fourth quarter worth approximately $2,643,000. Institutional investors own 95.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. DA Davidson decreased their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Loop Capital lowered their price target on shares of GMS from $93.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a report on Friday, March 7th. Barclays lowered their target price on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Finally, Truist Financial cut their price target on shares of GMS from $97.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Six 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, GMS has an average rating of “Hold” and a consensus price target of $80.50.

About GMS

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.