Cornercap Investment Counsel Inc. boosted its position in GMS Inc (NYSE:GMS) by 105.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 49,570 shares of the company’s stock after purchasing an additional 25,455 shares during the period. Cornercap Investment Counsel Inc.’s holdings in GMS were worth $1,866,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can grew its stake in GMS by 213.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 2,823 shares of the company’s stock worth $100,000 after acquiring an additional 1,923 shares during the period. SG Americas Securities LLC purchased a new stake in GMS in the 4th quarter worth approximately $129,000. Macquarie Group Ltd. purchased a new stake in GMS in the 3rd quarter worth approximately $170,000. Victory Capital Management Inc. purchased a new stake in GMS in the 3rd quarter worth approximately $182,000. Finally, California Public Employees Retirement System purchased a new stake in GMS in the 3rd quarter worth approximately $234,000. 72.83% of the stock is owned by hedge funds and other institutional investors.
GMS Inc (NYSE GMS) opened at $33.68 on Monday. The firm has a market cap of $1,381.92, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.40 and a beta of 1.70. GMS Inc has a 1-year low of $27.20 and a 1-year high of $39.98. The company has a quick ratio of 1.80, a current ratio of 2.91 and a debt-to-equity ratio of 1.02.
Several analysts have commented on the stock. Barclays reaffirmed a “buy” rating and issued a $42.00 target price on shares of GMS in a research note on Wednesday, March 7th. Seaport Global Securities raised shares of GMS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, March 7th. They noted that the move was a valuation call. Northcoast Research set a $41.00 target price on shares of GMS and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Royal Bank of Canada set a $38.00 target price on shares of GMS and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Finally, Zacks Investment Research lowered shares of GMS from a “hold” rating to a “sell” rating in a report on Tuesday, November 28th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. GMS currently has an average rating of “Buy” and a consensus target price of $38.89.
In other GMS news, major shareholder Investors Lp Aea sold 4,500,000 shares of GMS stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.05, for a total value of $171,225,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J David Smith bought 1,000 shares of GMS stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average price of $37.58 per share, for a total transaction of $37,580.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $75,160. The disclosure for this purchase can be found here. In the last quarter, insiders sold 5,104,166 shares of company stock worth $193,903,602. 5.90% of the stock is owned by company insiders.
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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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