GMS Inc. (NYSE:GMS) Short Interest Down 24.0% in March

GMS Inc. (NYSE:GMS - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,520,000 shares, a decrease of 24.0% from the March 15th total of 2,000,000 shares. Based on an average daily trading volume, of 453,300 shares, the days-to-cover ratio is presently 3.4 days. Approximately 4.0% of the company's stock are short sold.

Insider Activity at GMS

In related news, CEO John C. Turner, Jr. purchased 3,650 shares of the business's stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $70.00 per share, with a total value of $255,500.00. Following the purchase, the chief executive officer now directly owns 66,928 shares in the company, valued at approximately $4,684,960. This represents a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $73.46, for a total transaction of $916,340.04. Following the completion of the transaction, the director now directly owns 31,507 shares of the company's stock, valued at approximately $2,314,504.22. This represents a 28.36 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in GMS by 38.7% during the 4th quarter. FMR LLC now owns 5,868,782 shares of the company's stock worth $497,849,000 after buying an additional 1,636,612 shares during the last quarter. Coliseum Capital Management LLC boosted its holdings in shares of GMS by 135.0% in the 4th quarter. Coliseum Capital Management LLC now owns 1,889,489 shares of the company's stock valued at $160,285,000 after acquiring an additional 1,085,551 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of GMS in the 4th quarter valued at $109,277,000. Reinhart Partners LLC. boosted its holdings in shares of GMS by 17.5% in the 1st quarter. Reinhart Partners LLC. now owns 636,235 shares of the company's stock valued at $46,553,000 after acquiring an additional 94,716 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of GMS by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 609,715 shares of the company's stock valued at $51,722,000 after acquiring an additional 15,664 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

GMS Stock Up 4.0 %

Shares of GMS traded up $2.83 during trading hours on Wednesday, hitting $74.09. The company had a trading volume of 6,397 shares, compared to its average volume of 414,703. The company has a market capitalization of $2.84 billion, a PE ratio of 13.62 and a beta of 1.62. The company has a current ratio of 2.23, a quick ratio of 1.44 and a debt-to-equity ratio of 0.97. GMS has a one year low of $65.77 and a one year high of $105.54. The company's fifty day moving average price is $74.48 and its two-hundred day moving average price is $85.01.

GMS (NYSE:GMS - Get Free Report) last announced 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). GMS had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.29 billion. As a group, equities analysts forecast that GMS will post 7.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GMS has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of GMS from $97.00 to $80.00 and set a "hold" rating for the company in a report on Friday, March 7th. Royal Bank of Canada decreased their target price on shares of GMS from $82.00 to $65.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. UBS Group set a $80.00 price objective on shares of GMS in a research report on Friday, March 7th. Loop Capital dropped their target price on shares of GMS from $93.00 to $80.00 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, Barclays reduced their price objective on GMS from $80.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $80.50.

About GMS

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.