Highbridge Capital Management LLC Grows Stake in GMS Inc (GMS)

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Highbridge Capital Management LLC lifted its position in shares of GMS Inc (NYSE:GMS) by 103.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,500 shares of the company’s stock after purchasing an additional 124,540 shares during the period. Highbridge Capital Management LLC’s holdings in GMS were worth $5,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of GMS by 13.7% during the second quarter. BlackRock Inc. now owns 2,176,031 shares of the company’s stock worth $58,949,000 after purchasing an additional 262,423 shares during the last quarter. Rubric Capital Management LP grew its holdings in shares of GMS by 8.6% during the third quarter. Rubric Capital Management LP now owns 2,008,392 shares of the company’s stock worth $46,595,000 after purchasing an additional 158,392 shares during the last quarter. FMR LLC grew its holdings in shares of GMS by 52.8% during the third quarter. FMR LLC now owns 1,733,701 shares of the company’s stock worth $40,222,000 after purchasing an additional 599,001 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of GMS by 48.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,456,275 shares of the company’s stock worth $33,786,000 after purchasing an additional 472,895 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GMS by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 891,608 shares of the company’s stock worth $24,151,000 after purchasing an additional 225,233 shares during the last quarter. Institutional investors own 74.69% of the company’s stock.

GMS stock opened at $17.23 on Thursday. The company has a current ratio of 3.08, a quick ratio of 1.93 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $708.82 million, a P/E ratio of 8.57, a P/E/G ratio of 0.75 and a beta of 2.17. GMS Inc has a one year low of $14.89 and a one year high of $39.98.

GMS (NYSE:GMS) last posted its quarterly earnings data on Tuesday, December 4th. The company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.06). The company had revenue of $833.80 million during the quarter, compared to analyst estimates of $830.54 million. GMS had a return on equity of 17.74% and a net margin of 2.23%. GMS’s revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities analysts predict that GMS Inc will post 3.29 earnings per share for the current fiscal year.

Several analysts have recently weighed in on GMS shares. Zacks Investment Research cut GMS from a “buy” rating to a “hold” rating in a report on Monday, September 3rd. TheStreet cut GMS from a “c-” rating to a “d+” rating in a report on Wednesday, October 24th. Nomura boosted their price target on GMS from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 31st. ValuEngine cut GMS from a “sell” rating to a “strong sell” rating in a report on Thursday, October 4th. Finally, Raymond James boosted their price target on GMS from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, August 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $34.60.

In related news, Director John J. Gavin acquired 4,150 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were bought at an average cost of $24.13 per share, with a total value of $100,139.50. Following the completion of the purchase, the director now directly owns 16,966 shares in the company, valued at $409,389.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is owned by insiders.

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GMS Company Profile

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

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Institutional Ownership by Quarter for GMS (NYSE:GMS)

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