GMR Solutions (NYSE:GMRS) Shares Gap Down – What’s Next?

GMR Solutions Inc. (NYSE:GMRS) gapped down before the market opened on Monday. The stock had previously closed at $12.44, but opened at $11.35. GMR Solutions shares last traded at $11.42, with a volume of 500,804 shares trading hands.

Analyst Upgrades and Downgrades

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

GMR Solutions Price Performance

The firm has a market cap of $596.92 million and a P/E ratio of -7.08. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50. The business’s 50-day moving average is $11.38.

GMR Solutions (NYSE:GMRS) last released its quarterly earnings results 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 for the quarter. GMR Solutions’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts forecast that GMR Solutions Inc. will post 1.68 EPS for the current fiscal year.

Insider Transactions at GMR Solutions

In related news, EVP Thomas A. A. Cook sold 251,882 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.20, for a total value of $3,072,960.40. Following the transaction, the executive vice president directly owned 675,686 shares of the company’s stock, valued at approximately $8,243,369.20. This trade represents a 27.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 $288,981.40. Following the transaction, the chief accounting officer owned 62,566 shares in the company, valued at $763,305.20. This trade represents a 27.46% 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 sold a total of 2,353,423 shares of company stock worth $28,711,761 over the last three months.

Institutional Trading of GMR Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new stake in GMR Solutions in the second quarter worth about $36,817,000. HBK Investments L P bought a new position in shares of GMR Solutions in the second quarter worth about $3,092,000. State Street Corp purchased a new position in shares of GMR Solutions during the 2nd quarter valued at about $2,542,000. Readystate Asset Management LP purchased a new position in shares of GMR Solutions during the 2nd quarter valued at about $12,936,000. Finally, Citadel Advisors LLC purchased a new position in shares of GMR Solutions during the 2nd quarter valued at about $49,284,000.

GMR Solutions Company Profile

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.