Seven Eight Capital LP Acquires Shares of 5,069 GMS Inc. (NYSE:GMS)

Seven Eight Capital LP acquired a new stake in GMS Inc. (NYSE:GMS) during the second quarter, Holdings Channel.com reports. The fund acquired 5,069 shares of the company’s stock, valued at approximately $409,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of GMS by 86.4% in the second quarter. Blue Trust Inc. now owns 369 shares of the company’s stock valued at $30,000 after purchasing an additional 171 shares in the last quarter. GAMMA Investing LLC lifted its stake in GMS by 107.6% during the 1st quarter. GAMMA Investing LLC now owns 793 shares of the company’s stock valued at $77,000 after acquiring an additional 411 shares in the last quarter. EntryPoint Capital LLC purchased a new position in GMS during the 1st quarter worth $77,000. LRI Investments LLC bought a new stake in shares of GMS in the 1st quarter worth $127,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of GMS by 174,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,741 shares of the company’s stock valued at $144,000 after purchasing an additional 1,740 shares during the last quarter. 95.28% of the stock is owned by institutional investors.

GMS Trading Down 2.0 %

Shares of GMS opened at $90.20 on Monday. GMS Inc. has a fifty-two week low of $56.58 and a fifty-two week high of $101.04. The business has a 50-day moving average of $89.53 and a 200 day moving average of $90.75. The firm has a market cap of $3.58 billion, a P/E ratio of 13.40 and a beta of 1.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.45 and a current ratio of 2.31.

GMS (NYSE:GMS) last posted its 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 business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. GMS had a return on equity of 22.02% and a net margin of 4.45%. GMS’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.40 EPS. As a group, research analysts forecast that GMS Inc. will post 7.95 EPS for the current year.

Insider Activity at GMS

In other GMS news, SVP Craig D. Apolinsky sold 7,900 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $90.32, for a total transaction of $713,528.00. Following the sale, the senior vice president now owns 10,671 shares of the company’s stock, valued at approximately $963,804.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GMS shares. DA Davidson reduced their price objective on shares of GMS from $105.00 to $97.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Robert W. Baird dropped their price target on GMS from $112.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 21st. Barclays cut their price objective on 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 lowered GMS from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Stephens cut their price target on shares of GMS from $112.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, July 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, GMS presently has a consensus rating of “Hold” and an average price target of $89.63.

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.