Short Interest in GMS Inc (NYSE:GMS) Declines By 17.1%

GMS Inc (NYSE:GMS) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 903,900 shares, a decline of 17.1% from the June 30th total of 1,090,800 shares. Based on an average daily trading volume, of 417,200 shares, the short-interest ratio is currently 2.2 days. Approximately 2.8% of the company’s shares are sold short.

In other news, CEO G Michael Callahan, Jr. sold 28,950 shares of GMS stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $22.61, for a total value of $654,559.50. Following the transaction, the chief executive officer now owns 428,314 shares in the company, valued at $9,684,179.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC purchased a new position in GMS in the 2nd quarter worth approximately $14,140,000. Cubist Systematic Strategies LLC raised its holdings in GMS by 270.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,561 shares of the company’s stock worth $1,002,000 after acquiring an additional 33,263 shares during the last quarter. Marshall Wace LLP purchased a new position in GMS in the 2nd quarter worth approximately $469,000. Paloma Partners Management Co purchased a new position in GMS in the 2nd quarter worth approximately $260,000. Finally, Algert Global LLC raised its holdings in GMS by 17.5% in the 2nd quarter. Algert Global LLC now owns 66,031 shares of the company’s stock worth $1,453,000 after acquiring an additional 9,853 shares during the last quarter. 72.05% of the stock is currently owned by institutional investors.

Shares of NYSE GMS traded down $0.07 during trading hours on Thursday, hitting $21.30. The company’s stock had a trading volume of 295,600 shares, compared to its average volume of 544,929. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.24. The stock has a market cap of $880.98 million, a price-to-earnings ratio of 7.61, a P/E/G ratio of 1.03 and a beta of 2.40. GMS has a 12 month low of $13.61 and a 12 month high of $28.47. The business has a 50-day simple moving average of $22.32 and a 200-day simple moving average of $19.06.

GMS (NYSE:GMS) last posted its earnings results on Thursday, June 27th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.03). The business had revenue of $780.10 million during the quarter, compared to the consensus estimate of $784.40 million. GMS had a return on equity of 18.94% and a net margin of 1.80%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. On average, equities research analysts forecast that GMS will post 3.04 EPS for the current year.

Several research analysts have recently commented on the company. Nomura reiterated a “neutral” rating and issued a $20.00 price objective (down previously from $27.00) on shares of GMS in a report on Thursday, May 16th. Royal Bank of Canada set a $23.00 price objective on GMS and gave the stock a “buy” rating in a report on Friday, June 28th. Zacks Investment Research downgraded GMS from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, TheStreet upgraded GMS from a “d+” rating to a “c-” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.22.

About GMS

GMS Inc distributes wallboards, suspended ceilings systems, and related construction products in the United States and Canada. The company offers wallboard products; and 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.

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