GMR Solutions’ (NYSE:GMRS – Get Free Report) lock-up period will expire on Monday, November 9th. GMR Solutions had issued 31,914,893 shares in its public offering on May 13th. The total size of the offering was $478,723,395 based on an initial share price of $15.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a research report on Tuesday, August 18th. JPMorgan Chase & Co. lifted their price objective on GMR Solutions from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, September 11th. Finally, Weiss Ratings assumed coverage on shares of GMR Solutions in a research note on Friday, August 14th. They issued a “sell (d)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.
View Our Latest Stock Analysis on GMRS
GMR Solutions Stock Performance
Shares of GMRS opened at $12.43 on Friday. The company has a debt-to-equity ratio of 5.50, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a 50 day simple moving average of $11.38. GMR Solutions has a fifty-two week low of $8.99 and a fifty-two week high of $15.98. The stock has a market cap of $671.47 million and a PE ratio of -7.97.
GMR Solutions (NYSE:GMRS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The company had revenue of $1.49 billion for the quarter. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that GMR Solutions will post 1.68 EPS for the current year.
Insider Activity at GMR Solutions
In other GMR Solutions news, EVP Lisa Jacoba sold 92,680 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $1,130,696.00. Following the sale, the executive vice president owned 198,603 shares of the company’s stock, valued at approximately $2,422,956.60. This trade represents a 31.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of GMR Solutions stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $17,776,644.40. Following the completion of the transaction, the chief executive officer owned 2,855,580 shares in the company, valued at $34,838,076. This represents a 33.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,353,423 shares of company stock valued at $28,711,761 over the last 90 days.
Hedge Funds Weigh In On GMR Solutions
Several institutional investors and hedge funds have recently added to or reduced their stakes in GMRS. State of Wyoming purchased a new stake in shares of GMR Solutions during the third quarter valued at about $137,000. State Street Corp bought a new stake in shares of GMR Solutions in the 2nd quarter valued at about $2,542,000. HBK Investments L P bought a new stake in shares of GMR Solutions in the 2nd quarter valued at about $3,092,000. Steamboat Capital Partners LLC purchased a new position in shares of GMR Solutions in the 2nd quarter worth approximately $9,184,000. Finally, Squarepoint Ops LLC purchased a new position in shares of GMR Solutions in the 2nd quarter worth approximately $801,000.
About GMR Solutions
GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.
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