Insider Selling: GMR Solutions (NYSE:GMRS) COO Sells $3,199,791.60 in Stock

GMR Solutions Inc. (NYSE:GMRS) COO Horne Edward Van sold 262,278 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $3,199,791.60. Following the completion of the sale, the chief operating officer owned 575,004 shares in the company, valued at $7,015,048.80. The trade was a 31.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

GMR Solutions Stock Down 1.9%

NYSE:GMRS opened at $12.72 on Friday. GMR Solutions Inc. has a twelve month low of $10.26 and a twelve month high of $15.98. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 5.50. The business’s 50 day moving average price is $13.14. The firm has a market cap of $687.13 million and a P/E ratio of -8.15.

GMR Solutions (NYSE:GMRS) last issued 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 firm had revenue of $1.49 billion for the quarter. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that GMR Solutions Inc. will post 1.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GMRS. Weiss Ratings began coverage on shares of GMR Solutions in a research report on Friday, August 14th. They set a “sell (d)” rating on the stock. Zacks Research upgraded GMR Solutions to a “hold” rating in a report on Tuesday, June 9th. Needham & Company LLC set a $18.00 target price on GMR Solutions in a research report on Monday, June 8th. Morgan Stanley began coverage on GMR Solutions in a research report on Monday, June 8th. They issued an “equal weight” rating and a $14.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price 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 given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.78.

Institutional Investors Weigh In On GMR Solutions

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new position in GMR Solutions during the second quarter worth $49,284,000. Alyeska Investment Group L.P. bought a new position in shares of GMR Solutions in the second quarter valued at about $36,817,000. Readystate Asset Management LP bought a new position in shares of GMR Solutions in the second quarter valued at about $12,936,000. Steamboat Capital Partners LLC bought a new position in shares of GMR Solutions in the second quarter valued at about $9,184,000. Finally, HBK Investments L P acquired a new stake in shares of GMR Solutions during the 2nd quarter worth about $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.