Massachusetts Financial Services Co. MA Sells 854,233 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA cut its holdings in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 26.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398,923 shares of the company’s stock after selling 854,233 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.27% of GCM Grosvenor worth $23,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GCMG. Quadrature Capital Ltd bought a new stake in shares of GCM Grosvenor during the fourth quarter worth about $117,000. Wasatch Advisors LP boosted its holdings in GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after acquiring an additional 1,234,505 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of GCM Grosvenor in the 1st quarter worth $873,000. Russell Investments Group Ltd. raised its holdings in shares of GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after purchasing an additional 130,547 shares during the last quarter. Finally, Blair William & Co. IL lifted its position 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 valued at $1,589,000 after purchasing an additional 43,207 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

GCMG has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. TD Cowen boosted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer decreased their target price on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, GCM Grosvenor has an average rating of “Hold” and an average target price of $11.60.

GCM Grosvenor Stock Down 1.1 %

GCMG opened at $11.24 on Friday. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -35.13 and a beta of 0.54. The firm has a 50-day moving average price of $10.82 and a 200-day moving average price of $9.98. GCM Grosvenor Inc. has a twelve month low of $7.47 and a twelve month high of $11.50.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $117.12 million. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. On average, sell-side analysts expect that GCM Grosvenor Inc. will post 0.5 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.11 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 3.91%. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 77.30% of the company’s stock.

GCM Grosvenor 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.