GMR Solutions Inc.’s Lock-Up Period Set To Expire on November 9th (NYSE:GMRS)

GMR Solutions’ (NYSE:GMRS) lock-up period will end on Monday, November 9th. GMR Solutions had issued 31,914,893 shares in its IPO on May 13th. The total size of the offering was $478,723,395 based on an initial share price of $15.00. After the expiration of GMR Solutions’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. increased their target price on GMR Solutions from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. The Goldman Sachs Group set a $30.00 price target on shares of GMR Solutions in a research note on Tuesday, August 18th. Finally, Weiss Ratings initiated coverage on shares of GMR Solutions in a research note on Friday, August 14th. They set a “sell (d)” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GMR Solutions has a consensus rating of “Moderate Buy” and an average target price of $18.78.

GMR Solutions Trading Up 2.7%

NYSE:GMRS opened at $11.41 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. The stock has a market capitalization of $616.37 million and a P/E ratio of -7.31. GMR Solutions has a 12 month low of $8.99 and a 12 month high of $15.98. The stock has a 50-day moving average price of $11.40.

GMR Solutions (NYSE:GMRS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($2.22). The company had revenue of $1.49 billion for the quarter. GMR Solutions’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that GMR Solutions will post 1.68 earnings per share for the current year.

Insider Activity

In other GMR Solutions news, EVP Lisa Jacoba sold 92,680 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $1,130,696.00. Following the completion of the sale, the executive vice president owned 198,603 shares of the company’s stock, valued at $2,422,956.60. This trade represents a 31.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Scott Tierney sold 265,794 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,242,686.80. Following the transaction, the chief financial officer owned 554,955 shares of the company’s stock, valued at approximately $6,770,451. The trade was a 32.38% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 2,353,423 shares of company stock worth $28,711,761.

Hedge Funds Weigh In On GMR Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in GMRS. Citadel Advisors LLC purchased a new position in GMR Solutions during the 2nd quarter valued at about $49,284,000. Alyeska Investment Group L.P. acquired a new stake in GMR Solutions during the 2nd quarter worth about $36,817,000. Readystate Asset Management LP purchased a new stake in shares of GMR Solutions in the 2nd quarter valued at $12,936,000. Steamboat Capital Partners LLC acquired a new stake in GMR Solutions during the second quarter worth about $9,184,000. Finally, HBK Investments L P purchased a new stake in GMR Solutions during the second quarter worth $3,092,000.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.