Global Industrial (NYSE:GIC) Sees Unusually-High Trading Volume – What’s Next?

Global Industrial (NYSE:GIC) saw strong trading volume on Monday . 123,469 shares were traded during trading, an increase of 21% from the previous session’s volume of 101,744 shares.The stock last traded at $25.26 and had previously closed at $25.31.

Global Industrial Price Performance

The company has a market cap of $979.83 million, a price-to-earnings ratio of 15.08, a PEG ratio of 0.92 and a beta of 0.88. The business’s 50-day simple moving average is $26.00 and its 200-day simple moving average is $30.09.

Global Industrial (NYSE:GIC) last posted its earnings results on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.14). The company had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $353.44 million. Global Industrial had a net margin of 4.92% and a return on equity of 24.53%. During the same period in the previous year, the company posted $0.54 EPS. As a group, sell-side analysts forecast that Global Industrial will post 1.59 EPS for the current year.

Insider Activity at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total transaction of $165,155.20. Following the sale, the insider now owns 23,675 shares in the company, valued at $669,529. This trade represents a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 65.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Global Industrial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in Global Industrial by 221.5% during the third quarter. Barclays PLC now owns 30,622 shares of the company’s stock worth $1,041,000 after buying an additional 21,097 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Global Industrial by 39.8% in the third quarter. JPMorgan Chase & Co. now owns 46,005 shares of the company’s stock worth $1,563,000 after buying an additional 13,105 shares during the period. FMR LLC boosted its holdings in Global Industrial by 14.7% in the 3rd quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after acquiring an additional 325,555 shares during the period. State Street Corp lifted its position in shares of Global Industrial by 2.6% during the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after purchasing an additional 8,136 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Global Industrial by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 316,083 shares of the company’s stock worth $10,740,000 after buying an additional 10,601 shares during the period. Institutional investors and hedge funds own 31.19% of the company’s stock.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.