GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $11.50

GCM Grosvenor (NASDAQ:GCMG) had its price target lifted by equities research analysts at Piper Sandler from $10.50 to $11.50 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 1.50% from the stock’s current price.

GCMG has been the subject of a number of other reports. TD Cowen raised their target price on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Oppenheimer lowered their target price on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.80.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $11.33 on Wednesday. The business has a fifty day moving average price of $10.95 and a 200 day moving average price of $10.22. The company has a market cap of $2.14 billion, a P/E ratio of -35.41 and a beta of 0.54. GCM Grosvenor has a one year low of $7.59 and a one year high of $11.60.

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

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the sale, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 77.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in GCM Grosvenor in the 3rd quarter valued at about $191,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GCM Grosvenor during the 2nd quarter worth about $157,000. Millennium Management LLC raised its position in shares of GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after acquiring an additional 263,064 shares in the last quarter. Ariel Investments LLC raised its position in shares of GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after acquiring an additional 66,016 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of GCM Grosvenor by 374.3% during the 2nd quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock worth $892,000 after acquiring an additional 72,160 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

About GCM Grosvenor

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.