Scopia Capital Management LP Trims Position in GMS Inc. (NYSE:GMS)

Scopia Capital Management LP lessened its stake in GMS Inc. (NYSE:GMS) by 35.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,268 shares of the company’s stock after selling 73,182 shares during the period. GMS accounts for about 2.5% of Scopia Capital Management LP’s portfolio, making the stock its 23rd largest position. Scopia Capital Management LP’s holdings in GMS were worth $12,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in GMS by 25.3% in the 3rd quarter. FMR LLC now owns 4,232,170 shares of the company’s stock worth $383,308,000 after buying an additional 854,987 shares during the period. American Century Companies Inc. increased its stake in GMS by 28.5% in the 2nd quarter. American Century Companies Inc. now owns 1,830,833 shares of the company’s stock worth $147,583,000 after buying an additional 406,406 shares during the period. Pacer Advisors Inc. increased its stake in GMS by 0.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,474,821 shares of the company’s stock worth $118,885,000 after buying an additional 6,396 shares during the period. Federated Hermes Inc. increased its stake in GMS by 0.9% in the 2nd quarter. Federated Hermes Inc. now owns 1,056,053 shares of the company’s stock worth $85,128,000 after buying an additional 9,516 shares during the period. Finally, Westwood Holdings Group Inc. increased its position in GMS by 4.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 739,908 shares of the company’s stock valued at $59,644,000 after purchasing an additional 34,205 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.

GMS Stock Up 0.1 %

Shares of GMS stock opened at $100.29 on Friday. The firm’s 50 day moving average price is $94.68 and its 200-day moving average price is $90.84. The company has a market cap of $3.94 billion, a P/E ratio of 16.55 and a beta of 1.68. The company has a quick ratio of 1.45, a current ratio of 2.31 and a debt-to-equity ratio of 0.90. GMS Inc. has a 52-week low of $66.07 and a 52-week high of $105.54.

GMS (NYSE:GMS) last released its earnings results on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.21). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $2.40 earnings per share. On average, sell-side analysts predict that GMS Inc. will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of GMS stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $102.13, for a total transaction of $510,650.00. Following the completion of the sale, the chief operating officer now directly owns 23,772 shares in the company, valued at approximately $2,427,834.36. The trade was a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GMS. Barclays cut their target price on shares of GMS from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, September 9th. StockNews.com downgraded shares of GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Truist Financial cut their target price on shares of GMS from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Loop Capital raised their target price on shares of GMS from $85.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, November 25th. Finally, Robert W. Baird raised their target price on shares of GMS from $96.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GMS has an average rating of “Hold” and an average target price of $92.50.

GMS Company 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.