Alliancebernstein L.P. Reduces Stock Position in GMS Inc. (NYSE:GMS)

Alliancebernstein L.P. trimmed its holdings in shares of GMS Inc. (NYSE:GMS) by 1.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 88,848 shares of the company’s stock after selling 1,601 shares during the quarter. Alliancebernstein L.P.’s holdings in GMS were worth $7,537,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. AlphaQuest LLC raised its position in GMS by 1,710.5% during the fourth quarter. AlphaQuest LLC now owns 344 shares of the company’s stock valued at $29,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. increased its position in shares of GMS by 71.3% during the 4th quarter. Blue Trust Inc. now owns 685 shares of the company’s stock valued at $62,000 after purchasing an additional 285 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in GMS by 246.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 991 shares of the company’s stock valued at $84,000 after buying an additional 705 shares during the period. New Age Alpha Advisors LLC bought a new stake in GMS in the fourth quarter worth $193,000. Finally, Stifel Financial Corp purchased a new position in GMS during the third quarter worth $222,000. Institutional investors own 95.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GMS. Barclays reduced their target price on shares of GMS from $80.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Robert W. Baird decreased their price objective on shares of GMS from $110.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Truist Financial cut their target price on GMS from $97.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Loop Capital decreased their price target on GMS from $93.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Finally, DA Davidson cut their price objective on GMS from $94.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.50.

Insider Buying and Selling

In related news, CEO John C. Turner, Jr. acquired 3,650 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average cost of $70.00 per share, for a total transaction of $255,500.00. Following the purchase, the chief executive officer now directly owns 66,928 shares of the company’s stock, valued at $4,684,960. This trade represents a 5.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Theron I. Gilliam sold 12,474 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $73.46, for a total value of $916,340.04. Following the sale, the director now directly owns 31,507 shares in the company, valued at approximately $2,314,504.22. The trade was a 28.36 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

GMS Stock Up 1.3 %

Shares of NYSE GMS opened at $72.86 on Friday. GMS Inc. has a 52-week low of $65.77 and a 52-week high of $105.54. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 13.39 and a beta of 1.62. The stock has a 50 day moving average price of $76.30 and a 200 day moving average price of $85.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.44 and a current ratio of 2.23.

GMS (NYSE:GMS) last issued its earnings results on Thursday, March 6th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.47). GMS had a return on equity of 20.67% and a net margin of 3.92%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Sell-side analysts expect that GMS Inc. will post 7.26 earnings per share for the current year.

GMS Profile

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.