GMR Solutions (NYSE:GMRS) Shares Gap Down – Time to Sell?

GMR Solutions Inc. (NYSE:GMRS) shares gapped down prior to trading on Monday. The stock had previously closed at $10.39, but opened at $9.98. GMR Solutions shares last traded at $9.81, with a volume of 1,534 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GMRS. Weiss Ratings assumed coverage on GMR Solutions in a research report on Friday, August 14th. They issued a “sell (d)” rating for the company. The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a research note on Tuesday, August 18th. Finally, JPMorgan Chase & Co. increased their price target on GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.78.

GMR Solutions Price Performance

The company has a market cap of $537.50 million and a price-to-earnings ratio of -6.38. The stock has a fifty day simple moving average of $12.03. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01.

GMR Solutions (NYSE:GMRS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($2.22). The business had revenue of $1.49 billion during the quarter. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lisa Jacoba sold 92,680 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $1,130,696.00. Following the completion of the sale, the executive vice president owned 198,603 shares in the company, valued at $2,422,956.60. This represents a 31.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jessica Hall sold 23,687 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $288,981.40. Following the completion of the sale, the chief accounting officer owned 62,566 shares of the company’s stock, valued at approximately $763,305.20. This represents a 27.46% decrease in their position. 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 a total of 2,353,423 shares of company stock valued at $28,711,761 over the last 90 days.

Hedge Funds Weigh In On GMR Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of GMR Solutions during the second quarter valued at approximately $49,284,000. Alyeska Investment Group L.P. bought a new stake in GMR Solutions during the second quarter worth $36,817,000. Readystate Asset Management LP bought a new stake in GMR Solutions during the second quarter worth $12,936,000. Steamboat Capital Partners LLC purchased a new position in GMR Solutions in the second quarter worth $9,184,000. Finally, HBK Investments L P purchased a new position in GMR Solutions in the second quarter worth $3,092,000.

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.