Short Interest in GCM Grosvenor Inc. (NASDAQ:GCMG) Declines By 5.3%

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 2,480,000 shares, a drop of 5.3% from the May 31st total of 2,620,000 shares. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is presently 16.2 days. Approximately 5.8% of the company’s shares are short sold.

GCM Grosvenor Stock Performance

Shares of GCMG stock opened at $9.90 on Wednesday. GCM Grosvenor has a fifty-two week low of $7.25 and a fifty-two week high of $10.20. The stock’s 50-day simple moving average is $9.76 and its 200-day simple moving average is $9.18.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). GCM Grosvenor had a negative return on equity of 67.14% and a net margin of 3.55%. The business had revenue of $108.87 million for the quarter, compared to analysts’ expectations of $114.23 million. Equities analysts anticipate that GCM Grosvenor will post 0.52 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.44%. GCM Grosvenor’s payout ratio is -137.50%.

Analyst Ratings Changes

Several brokerages have recently commented on GCMG. Piper Sandler raised their price target on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, May 20th. UBS Group raised their price target on GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, TD Cowen raised their price target on GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Thursday, May 9th.

Institutional Investors Weigh In On GCM Grosvenor

A number of large investors have recently modified their holdings of GCMG. Wasatch Advisors LP lifted its holdings in shares of GCM Grosvenor by 111.5% during the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of GCM Grosvenor by 65.0% during the fourth quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock worth $4,934,000 after purchasing an additional 216,964 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of GCM Grosvenor during the first quarter worth about $873,000. Blair William & Co. IL lifted its holdings in shares of GCM Grosvenor by 35.6% during the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock worth $1,589,000 after purchasing an additional 43,207 shares during the period. Finally, Ariel Investments LLC lifted its holdings in shares of GCM Grosvenor by 0.9% during the first quarter. Ariel Investments LLC now owns 4,480,080 shares of the company’s stock worth $43,278,000 after purchasing an additional 37,967 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.