Assenagon Asset Management S.A. Buys 62,120 Shares of GMS Inc. (NYSE:GMS)

Assenagon Asset Management S.A. raised its position in GMS Inc. (NYSE:GMS - Free Report) by 412.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,181 shares of the company's stock after purchasing an additional 62,120 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of GMS worth $6,990,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GMS. BNP Paribas Financial Markets grew its stake in shares of GMS by 98.7% in the 1st quarter. BNP Paribas Financial Markets now owns 53,373 shares of the company's stock valued at $5,195,000 after buying an additional 26,518 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of GMS during the 1st quarter valued at $814,000. Comerica Bank lifted its stake in shares of GMS by 157.0% in the 1st quarter. Comerica Bank now owns 48,284 shares of the company's stock valued at $4,700,000 after purchasing an additional 29,495 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of GMS by 56.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,981 shares of the company's stock valued at $5,060,000 after purchasing an additional 18,799 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in GMS by 22.8% in the second quarter. Algert Global LLC now owns 151,535 shares of the company's stock worth $12,215,000 after purchasing an additional 28,137 shares in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on GMS. Barclays reduced their price target on GMS from $81.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, September 9th. Truist Financial decreased their target price on GMS from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, August 30th. StockNews.com lowered shares of GMS from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Stephens decreased their price objective on shares of GMS from $112.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, July 1st. 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 note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $91.50.

GMS Stock Performance

NYSE:GMS traded down $2.08 during trading hours on Tuesday, hitting $89.95. 224,469 shares of the company traded hands, compared to its average volume of 380,777. The company has a current ratio of 2.31, a quick ratio of 1.45 and a debt-to-equity ratio of 0.90. GMS Inc. has a twelve month low of $57.28 and a twelve month high of $101.04. The firm has a 50-day moving average of $89.86 and a 200 day moving average of $89.99. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 13.40 and a beta of 1.68.

GMS (NYSE:GMS - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.14 by ($0.21). GMS had a net margin of 4.45% and a return on equity of 22.02%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $2.40 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

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.