GMS Inc (GMS) Short Interest Down 58.6% in December

GMS Inc (NYSE:GMS) was the target of a large decrease in short interest in December. As of December 29th, there was short interest totalling 284,214 shares, a decrease of 58.6% from the December 15th total of 686,298 shares. Based on an average daily volume of 371,590 shares, the short-interest ratio is presently 0.8 days. Approximately 0.9% of the company’s stock are short sold.

GMS has been the subject of a number of research reports. Royal Bank of Canada reissued a “buy” rating and set a $39.00 target price on shares of GMS in a research report on Tuesday, October 10th. Robert W. Baird reissued a “buy” rating and set a $37.00 target price on shares of GMS in a research report on Monday, October 9th. Zacks Investment Research raised shares of GMS from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Wednesday, November 1st. Barclays set a $46.00 target price on shares of GMS and gave the company a “buy” rating in a research report on Sunday, January 7th. Finally, SunTrust Banks upped their price target on shares of GMS to $45.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Shares of GMS (NYSE GMS) opened at $36.99 on Friday. The company has a market cap of $1,504.19, a P/E ratio of 27.81, a P/E/G ratio of 2.60 and a beta of 3.21. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.70 and a current ratio of 2.62. GMS has a 52 week low of $27.20 and a 52 week high of $39.98.

GMS (NYSE:GMS) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The business had revenue of $648.00 million for the quarter, compared to analysts’ expectations of $662.03 million. GMS had a net margin of 2.26% and a return on equity of 14.24%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. research analysts predict that GMS will post 2.01 earnings per share for the current fiscal year.

In related news, Director J David Smith bought 1,000 shares of GMS stock in a transaction dated Wednesday, December 13th. The stock was purchased at an average cost of $37.58 per share, with a total value of $37,580.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $75,160. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider G Michael Callahan, Jr. sold 33,333 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $37.79, for a total transaction of $1,259,654.07. Following the transaction, the insider now directly owns 495,085 shares of the company’s stock, valued at $18,709,262.15. The disclosure for this sale can be found here. Insiders sold a total of 5,234,115 shares of company stock valued at $198,962,859 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in GMS by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 217,089 shares of the company’s stock worth $7,688,000 after purchasing an additional 10,328 shares in the last quarter. Koch Industries Inc. purchased a new stake in GMS in the 2nd quarter worth approximately $324,000. IndexIQ Advisors LLC lifted its stake in GMS by 83.3% in the 3rd quarter. IndexIQ Advisors LLC now owns 24,737 shares of the company’s stock worth $876,000 after purchasing an additional 11,239 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in GMS in the 3rd quarter worth approximately $755,000. Finally, State Street Corp lifted its stake in GMS by 220.3% in the 2nd quarter. State Street Corp now owns 397,752 shares of the company’s stock worth $11,179,000 after purchasing an additional 273,558 shares in the last quarter. Institutional investors and hedge funds own 60.17% of the company’s stock.

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GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

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