GMR Solutions (NYSE:GMRS) Shares Gap Up on Better-Than-Expected Earnings

Shares of GMR Solutions Inc. (NYSE:GMRS) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.27, but opened at $12.01. GMR Solutions shares last traded at $11.24, with a volume of 589,622 shares.

The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.17. The company had revenue of $1.60 billion for the quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GMRS shares. Weiss Ratings started coverage on shares of GMR Solutions in a research note on Friday, August 14th. They issued a “sell (d)” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. Finally, The Goldman Sachs Group set a $30.00 price objective on shares of GMR Solutions in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

Insider Buying and Selling

In other news, EVP Lisa Jacoba sold 92,680 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $1,130,696.00. Following the completion of the sale, the executive vice president owned 198,603 shares of the company’s stock, valued at approximately $2,422,956.60. This represents a 31.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Scott Tierney sold 265,794 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,242,686.80. Following the transaction, the chief financial officer directly owned 554,955 shares in the company, valued at $6,770,451. This trade represents a 32.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,353,423 shares of company stock worth $28,711,761 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP purchased a new position in shares of GMR Solutions in the 3rd quarter valued at approximately $123,000. State of Wyoming purchased a new stake in GMR Solutions in the third quarter worth $137,000. State Street Corp purchased a new position in GMR Solutions during the second quarter valued at $2,542,000. HBK Investments L P bought a new stake in shares of GMR Solutions during the 2nd quarter valued at $3,092,000. Finally, Steamboat Capital Partners LLC bought a new stake in shares of GMR Solutions during the 2nd quarter valued at $9,184,000.

GMR Solutions Trading Down 1.2%

The firm’s fifty day simple moving average is $11.35. The firm has a market cap of $601.24 million and a PE ratio of -7.13. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.