Algert Global LLC reduces position in GMS Inc. (NYSE:GMS)
Algert Global LLC recently reduced its stake in GMS Inc. (NYSE:GMS) by 87.5% in the third quarter, based on their latest filing with the SEC. They now hold 18,987 shares of GMS, down from 132,548 shares previously. This change brings Algert Global LLC’s holdings in GMS to a value of $1,720,000.
Other institutional investors have also made adjustments to their holdings in GMS. For example, American Century Companies Inc. increased its stake in GMS by 28.5% during the second quarter, now owning 1,830,833 shares worth $147,583,000. Similarly, LSV Asset Management saw a 103.0% increase in their holdings, now owning 690,820 shares of GMS valued at $55,687,000.
GMS stock performance shows that it traded at $100.22 on Thursday, down $0.26. The stock has a market capitalization of $3.94 billion and a price-to-earnings ratio of 16.54.
In terms of earnings, GMS reported $1.93 EPS for the last quarter, missing analysts’ estimates. The company’s revenue for the quarter was $1.45 billion, slightly lower than expected. Analysts project that GMS will post earnings per share of 7.95 for the current fiscal year.
In insider news, COO George T. Hendren recently sold 5,000 shares of GMS stock, totaling $510,650. This represents a 17.38% decrease in their ownership of the stock.
Several Wall Street analysts have weighed in on GMS, with opinions ranging from a “hold” to an “outperform” rating. Loop Capital increased their price target for GMS, while Robert W. Baird gave the stock an “outperform” rating with a target price of $115.00.
GMS Inc. is a distributor of construction products in the US and Canada, specializing in wallboard, ceilings, and steel framing. The company serves a wide range of commercial and institutional buildings, providing essential construction materials for various projects.
