Westwood Holdings Group Inc. Boosts Holdings in GMS Inc. (NYSE:GMS)

by · The Cerbat Gem

Westwood Holdings Group Inc. boosted its position in GMS Inc. (NYSE:GMS – Free Report) by 29.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933,262 shares of the company’s stock after purchasing an additional 212,128 shares during the quarter. Westwood Holdings Group Inc.’s holdings in GMS were worth $68,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eukles Asset Management bought a new stake in GMS in the 1st quarter worth $33,000. Canada Pension Plan Investment Board bought a new stake in GMS in the 4th quarter worth $34,000. Versant Capital Management Inc grew its holdings in GMS by 170.5% in 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. GAMMA Investing LLC grew its holdings in GMS by 38.3% in the 1st quarter. GAMMA Investing LLC now owns 801 shares of the company’s stock worth $59,000 after acquiring an additional 222 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in GMS in the 1st quarter worth $252,000. 95.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $108.23, for a total transaction of $541,150.00. Following the completion of the sale, the chief operating officer directly owned 23,950 shares of the company’s stock, valued at approximately $2,592,108.50. This represents a 17.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Coliseum Capital Management, L sold 54,944 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $110.05, for a total transaction of $6,046,587.20. Following the sale, the insider directly owned 3,486,524 shares of the company’s stock, valued at approximately $383,691,966.20. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 343,627 shares of company stock valued at $37,808,097. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GMS. Baird R W lowered shares of GMS from a “strong-buy” rating to a “hold” rating in a report on Monday, June 23rd. DA Davidson lifted their target price on shares of GMS from $95.20 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, July 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $95.00 target price (up previously from $93.00) on shares of GMS in a research note on Monday, June 23rd. Royal Bank Of Canada lifted their target price on shares of GMS from $95.20 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 1st. Finally, Truist Financial lifted their target price on shares of GMS from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, July 1st. Ten research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.11.

Get Our Latest Stock Analysis on GMS

GMS Stock Down 0.0%

GMS opened at $109.63 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.91 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average price of $97.35 and a 200-day moving average price of $83.72. GMS Inc. has a twelve month low of $65.77 and a twelve month high of $110.28. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 37.93 and a beta of 1.76.

GMS (NYSE:GMS – Get Free Report) last released its quarterly earnings data on Wednesday, June 18th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.18. GMS had a net margin of 2.09% and a return on equity of 16.97%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts forecast that GMS Inc. will post 7.26 earnings per share for the current year.

GMS Company Profile

(Free Report)

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.

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