Jacobs Levy Equity Management Inc. Trims Position in GMS Inc. (NYSE:GMS)

Jacobs Levy Equity Management Inc. cut its holdings in shares of GMS Inc. (NYSE:GMS) by 28.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 249,752 shares of the company’s stock after selling 99,471 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.63% of GMS worth $24,311,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in GMS by 630.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 43,846 shares of the company’s stock worth $4,268,000 after buying an additional 37,846 shares during the last quarter. LRI Investments LLC purchased a new position in shares of GMS during the 1st quarter valued at approximately $127,000. Quadrature Capital Ltd grew its stake in GMS by 40.5% in the 1st quarter. Quadrature Capital Ltd now owns 10,593 shares of the company’s stock valued at $1,031,000 after acquiring an additional 3,054 shares during the period. Westwood Holdings Group Inc. acquired a new stake in GMS in the 1st quarter valued at $68,693,000. Finally, EntryPoint Capital LLC acquired a new stake in GMS in the 1st quarter valued at $77,000. 95.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GMS. Loop Capital lowered their target price on shares of GMS from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Robert W. Baird lowered their target price on shares of GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 21st. Barclays lowered their target price on shares of GMS from $93.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Truist Financial lowered their target price on shares of GMS from $105.00 to $95.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Finally, Stephens lowered their price target on shares of GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, July 1st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.38.

Insider Buying and Selling at GMS

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total value of $713,528.00. Following the transaction, the senior vice president now owns 10,671 shares of the company’s stock, valued at $963,804.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

GMS Trading Up 0.5 %

NYSE GMS traded up $0.50 during trading hours on Tuesday, reaching $94.78. The company had a trading volume of 231,996 shares, compared to its average volume of 377,939. The stock has a 50-day moving average of $88.13 and a 200 day moving average of $89.98. GMS Inc. has a 1-year low of $56.58 and a 1-year high of $101.04. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $3.76 billion, a P/E ratio of 14.16 and a beta of 1.63.

GMS (NYSE:GMS) last posted its earnings results on Thursday, June 20th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.11). GMS had a net margin of 5.02% and a return on equity of 24.05%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $2.11 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that GMS Inc. will post 8.64 earnings per share for the current fiscal 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.