GMR Solutions (NYSE:GMRS) Shares Gap Down – Here’s What Happened

GMR Solutions Inc. (NYSE:GMRS)’s share price gapped down before the market opened on Monday. The stock had previously closed at $10.39, but opened at $9.98. GMR Solutions shares last traded at $9.81, with a volume of 1,534 shares traded.

Analyst Upgrades and Downgrades

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

GMR Solutions Stock Up 5.3%

The company’s 50 day moving average is $11.95. The stock has a market capitalization of $567.77 million and a P/E ratio of -6.74. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 5.50.

GMR Solutions (NYSE:GMRS) last posted its earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($2.22). The business had revenue of $1.49 billion for the quarter. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

Insider Activity at GMR Solutions

In related news, EVP Lisa Jacoba sold 92,680 shares of the business’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 sale, the executive vice president owned 198,603 shares of the company’s stock, valued at $2,422,956.60. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Horne Edward Van sold 262,278 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,199,791.60. Following the completion of the sale, the chief operating officer owned 575,004 shares of the company’s stock, valued at $7,015,048.80. The trade was a 31.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,353,423 shares of company stock valued at $28,711,761 in the last quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in shares of GMR Solutions in the second quarter valued at about $49,284,000. Alyeska Investment Group L.P. bought a new position in shares of GMR Solutions during the second quarter worth about $36,817,000. Readystate Asset Management LP bought a new position in shares of GMR Solutions during the second quarter worth about $12,936,000. Steamboat Capital Partners LLC acquired a new position in shares of GMR Solutions in the second quarter worth approximately $9,184,000. Finally, HBK Investments L P acquired a new position in shares of GMR Solutions in the second quarter worth approximately $3,092,000.

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.