GMS Inc (NYSE:GMS) Short Interest Down 17.1% in August

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GMS Inc (NYSE:GMS) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 903,900 shares, a decline of 17.1% from the July 15th total of 1,090,800 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 417,200 shares, the days-to-cover ratio is currently 2.2 days.

In related news, CEO G Michael Callahan, Jr. sold 28,950 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $22.61, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GMS. Royce & Associates LP bought a new position in shares of GMS in the first quarter worth approximately $36,000. Public Employees Retirement System of Ohio lifted its stake in shares of GMS by 17.1% in the second quarter. Public Employees Retirement System of Ohio now owns 3,174 shares of the company’s stock worth $70,000 after buying an additional 463 shares in the last quarter. Glen Harbor Capital Management LLC bought a new position in shares of GMS in the second quarter worth approximately $70,000. Bank of Montreal Can lifted its stake in shares of GMS by 419.9% in the second quarter. Bank of Montreal Can now owns 3,296 shares of the company’s stock worth $73,000 after buying an additional 2,662 shares in the last quarter. Finally, Riverhead Capital Management LLC bought a new position in shares of GMS in the second quarter worth approximately $77,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Several research firms recently commented on GMS. Royal Bank of Canada set a $23.00 price objective on shares of GMS and gave the stock a “buy” rating in a research note on Friday, June 28th. Nomura reissued a “neutral” rating and set a $20.00 price objective (down previously from $27.00) on shares of GMS in a research note on Thursday, May 16th. Zacks Investment Research lowered shares of GMS from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. TheStreet raised shares of GMS from a “d+” rating to a “c-” rating in a research note on Thursday, May 2nd. Finally, ValuEngine raised shares of GMS from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. GMS has a consensus rating of “Hold” and a consensus price target of $24.22.

NYSE:GMS traded down $0.33 during mid-day trading on Tuesday, hitting $22.99. 282,927 shares of the company’s stock were exchanged, compared to its average volume of 536,644. GMS has a one year low of $13.61 and a one year high of $28.47. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.24 and a quick ratio of 1.43. The business has a fifty day moving average price of $22.51 and a 200 day moving average price of $19.28. The company has a market cap of $932.25 million, a PE ratio of 8.21, a P/E/G ratio of 1.08 and a beta of 2.40.

GMS (NYSE:GMS) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The business had revenue of $780.10 million for 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 company’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. On average, equities analysts forecast that GMS will post 3.06 EPS for the current fiscal year.

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

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