GMS Inc. (NYSE:GMS) Short Interest Up 20.5% in March

by · The Markets Daily

GMS Inc. (NYSE:GMS – Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,000,000 shares, a growth of 20.5% from the February 28th total of 1,660,000 shares. Based on an average daily volume of 475,900 shares, the days-to-cover ratio is currently 4.2 days. Approximately 5.3% of the company’s shares are short sold.

GMS Stock Up 2.1 %

NYSE:GMS traded up $1.55 on Wednesday, hitting $75.29. 279,548 shares of the company’s stock were exchanged, compared to its average volume of 409,777. The company has a market cap of $2.89 billion, a P/E ratio of 13.84 and a beta of 1.73. The firm has a 50-day moving average price of $78.92 and a 200-day moving average price of $87.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.23 and a quick ratio of 1.44. GMS has a 52 week low of $65.88 and a 52 week high of $105.54.

GMS (NYSE:GMS – Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.47). The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.29 billion. GMS had a return on equity of 20.67% and a net margin of 3.92%. As a group, analysts expect that GMS will post 7.26 EPS for the current fiscal year.

Insider Activity at GMS

In related news, Director Theron I. Gilliam sold 12,474 shares of GMS stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total transaction of $916,340.04. Following the transaction, the director now owns 31,507 shares of the company’s stock, valued at $2,314,504.22. This trade represents a 28.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GMS

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vise Technologies Inc. raised its position in GMS by 2.3% during the fourth quarter. Vise Technologies Inc. now owns 7,090 shares of the company’s stock worth $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 holdings in shares of GMS by 24.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,380 shares of the company’s stock valued at $8,006,000 after purchasing an additional 18,598 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of GMS in the 4th quarter valued at about $2,643,000. Sherbrooke Park Advisers LLC grew its holdings in GMS by 4.0% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,536 shares of the company’s stock worth $470,000 after purchasing an additional 211 shares during the period. Finally, ProShare Advisors LLC increased its position in GMS by 42.5% during the fourth quarter. ProShare Advisors LLC now owns 11,894 shares of the company’s stock worth $1,009,000 after buying an additional 3,550 shares during the last quarter. 95.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada decreased their target price on GMS from $82.00 to $65.00 and set a “sector perform” rating for the company in a research note on Friday, March 7th. Loop Capital lowered their target price on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Robert W. Baird cut their price target on shares of GMS from $110.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Barclays reduced their price target on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Finally, UBS Group set a $80.00 price objective on shares of GMS in a report on Friday, March 7th. Six investment 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, the stock presently has an average rating of “Hold” and an average target price of $80.50.

View Our Latest Report on GMS

GMS Company Profile

(Get 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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