Park West Asset Management LLC Invests $17.52 Million in GMS Inc. (GMS)

Park West Asset Management LLC purchased a new position in GMS Inc. (NYSE:GMS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 500,000 shares of the company’s stock, valued at approximately $17,520,000. Park West Asset Management LLC owned 1.22% of GMS as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GMS. Vanguard Group Inc. raised its stake in shares of GMS by 71.6% in the first quarter. Vanguard Group Inc. now owns 1,973,231 shares of the company’s stock worth $69,142,000 after buying an additional 822,997 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of GMS by 294.7% in the first quarter. Citadel Advisors LLC now owns 1,162,177 shares of the company’s stock worth $40,722,000 after buying an additional 867,736 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of GMS by 6.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,143,477 shares of the company’s stock worth $40,067,000 after buying an additional 66,383 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in shares of GMS by 7.8% in the first quarter. Emerald Advisers Inc. PA now owns 704,465 shares of the company’s stock worth $24,684,000 after buying an additional 50,683 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of GMS by 13,592.0% in the first quarter. Wells Fargo & Company MN now owns 669,950 shares of the company’s stock worth $23,476,000 after buying an additional 665,057 shares during the last quarter. Institutional investors and hedge funds own 39.13% of the company’s stock.

Institutional Ownership by Quarter for GMS (NYSE:GMS)

Shares of GMS Inc. (NYSE:GMS) traded down 0.68% during midday trading on Tuesday, hitting $32.11. The stock had a trading volume of 219,960 shares. The stock has a market cap of $1.31 billion and a PE ratio of 28.70. The firm has a 50 day moving average price of $33.55 and a 200 day moving average price of $31.75. GMS Inc. has a one year low of $19.28 and a one year high of $36.99.

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A number of equities research analysts have recently weighed in on GMS shares. ValuEngine upgraded GMS from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Royal Bank Of Canada boosted their price target on GMS from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, March 6th. Robert W. Baird upgraded GMS from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $32.00 to $36.00 in a research note on Wednesday, March 1st. Zacks Investment Research upgraded GMS from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, March 2nd. Finally, Barclays PLC restated an “overweight” rating and set a $37.00 price target (up previously from $36.00) on shares of GMS in a research note on Saturday, March 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. GMS has a consensus rating of “Buy” and an average target price of $32.43.

In other GMS news, SVP Richard Alan Adams sold 83,950 shares of GMS stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $31.68, for a total value of $2,659,536.00. Following the transaction, the senior vice president now directly owns 170,000 shares in the company, valued at approximately $5,385,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard K. Mueller sold 1,000,000 shares of GMS stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $31.68, for a total value of $31,680,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,986,079 shares of company stock worth $126,278,983 over the last quarter.

GMS Company Profile

GMS Inc is a distributor of wallboard and suspended ceilings systems, or ceilings. The Company provides a product offering of over 20,000 stock keeping units (SKUs) of wallboard, ceilings and complementary interior construction products for interior contractors. It offers steel framing and ancillary products for its customers.

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