Victory Capital Management Inc. Buys 6,136 Shares of GMS Inc. (NYSE:GMS)

Victory Capital Management Inc. raised its position in GMS Inc. (NYSE:GMS - Free Report) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,541 shares of the company's stock after purchasing an additional 6,136 shares during the quarter. Victory Capital Management Inc. owned 0.26% of GMS worth $9,197,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GMS. Blue Trust Inc. boosted its position in GMS by 86.4% during the 2nd quarter. Blue Trust Inc. now owns 369 shares of the company's stock worth $30,000 after buying an additional 171 shares during the period. Quarry LP raised its stake in shares of GMS by 37.1% during the second quarter. Quarry LP now owns 403 shares of the company's stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of GMS by 138.8% during the third quarter. GAMMA Investing LLC now owns 621 shares of the company's stock worth $56,000 after purchasing an additional 361 shares during the period. EntryPoint Capital LLC bought a new stake in shares of GMS in the first quarter worth $77,000. Finally, Canada Pension Plan Investment Board acquired a new stake in GMS in the second quarter valued at $121,000. 95.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GMS. Truist Financial cut their target price on GMS from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Friday, August 30th. StockNews.com downgraded shares of GMS from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Robert W. Baird raised their price target on shares of GMS from $96.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Barclays reduced their price objective on shares of GMS from $81.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, September 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.50.

Insider Buying and Selling

In other GMS news, COO George T. Hendren sold 5,000 shares of the business's stock in a transaction 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 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 document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

GMS Trading Up 2.6 %

Shares of NYSE:GMS traded up $2.60 during mid-day trading on Friday, hitting $101.70. The company had a trading volume of 493,349 shares, compared to its average volume of 379,103. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.31 and a quick ratio of 1.45. GMS Inc. has a one year low of $65.46 and a one year high of $103.56. The firm has a fifty day moving average price of $93.30 and a 200 day moving average price of $90.56. The company has a market capitalization of $4.00 billion, a PE ratio of 16.60 and a beta of 1.68.

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

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.