Algert Global LLC reduces investment in GMS Inc. (NYSE:GMS)

Algert Global LLC recently reduced its holdings in GMS Inc. (NYSE:GMS) by 87.5% during the third quarter, according to the firm’s most recent filing with the SEC. The fund now owns 18,987 shares of GMS after selling 132,548 shares. Their holdings in GMS are currently valued at $1,720,000.

Other institutional investors have also made changes to their positions in GMS. American Century Companies Inc. increased its holdings by 28.5% during the second quarter, while LSV Asset Management saw a 103.0% rise in their stake during the same period. Van Lanschot Kempen Investment Management N.V. bought a new position, and Edgestream Partners L.P. acquired a stake in GMS. Renaissance Technologies LLC also raised its stake by 95.4% in the second quarter. Overall, institutional investors and hedge funds own 95.28% of GMS stock.

GMS stock traded at $100.22 on Thursday, down $0.26. The company has a market capitalization of $3.94 billion, with a debt-to-equity ratio of 0.90. GMS has a 12-month low of $65.46 and a high of $105.54, with a 50-day moving average of $94.31.

In terms of performance, GMS announced its quarterly earnings on August 29th, with a $1.93 EPS for the quarter, missing analysts’ estimates by $0.21. Revenue for the quarter was $1.45 billion, slightly below expectations. Analysts predict that GMS will post earnings of 7.95 per share for the fiscal year.

In insider news, COO George T. Hendren sold 5,000 shares of GMS stock, amounting to $510,650. Following this, Hendren now owns 23,772 shares of the company, valued at approximately $2,427,834.36, representing a 17.38% decrease in ownership.

Several Wall Street analysts have weighed in on GMS, with varying recommendations. Loop Capital raised their price target to $93, Barclays decreased theirs to $80, and DA Davidson downgraded GMS to a neutral rating. Robert W. Baird, however, gave GMS an outperform rating with a target price of $115. StockNews.com also lowered GMS from a buy to hold rating.

Overall, GMS Inc. specializes in distributing construction products in the US and Canada, focusing on wallboard, ceilings, and steel framing for commercial and institutional buildings. With changes in institutional holdings and varied analyst opinions, GMS continues to be a company to watch in the market.