Hancock Whitney Corp Sells 3,538 Shares of GMS Inc. (NYSE:GMS)

Hancock Whitney Corp cut its position in shares of GMS Inc. (NYSE:GMS) by 52.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the company’s stock after selling 3,538 shares during the period. Hancock Whitney Corp’s holdings in GMS were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GMS. AlphaQuest LLC boosted its position in GMS by 1,710.5% during the 4th quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after acquiring an additional 325 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in GMS in the fourth quarter worth about $34,000. Blue Trust Inc. lifted its position in shares of GMS by 71.3% during the fourth quarter. Blue Trust Inc. now owns 685 shares of the company’s stock valued at $62,000 after buying an additional 285 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of GMS by 246.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock valued at $84,000 after buying an additional 705 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of GMS in the 4th quarter worth approximately $193,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GMS

In other news, Director Theron I. Gilliam sold 12,474 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total value of $916,340.04. Following the completion of the transaction, the director now owns 31,507 shares of the company’s stock, valued at $2,314,504.22. The trade was a 28.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John C. Turner, Jr. bought 3,650 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

GMS Price Performance

Shares of NYSE GMS opened at $73.29 on Monday. GMS Inc. has a 52 week low of $65.77 and a 52 week high of $105.54. The business’s 50 day moving average price is $73.86 and its 200 day moving average price is $84.57. The company has a quick ratio of 1.44, a current ratio of 2.23 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2.81 billion, a P/E ratio of 13.47 and a beta of 1.62.

GMS (NYSE:GMS) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.29 billion. On average, sell-side analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

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.