GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High After Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $9.50 to $12.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $11.78 and last traded at $11.77, with a volume of 183705 shares traded. The stock had previously closed at $11.72.

GCMG has been the subject of a number of other research reports. Oppenheimer increased their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, TD Cowen upped 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.10.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GCM Grosvenor

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in GCM Grosvenor in the first quarter worth $873,000. Russell Investments Group Ltd. raised its holdings in GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Wasatch Advisors LP raised its holdings in GCM Grosvenor by 111.5% in 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 in the last quarter. Millennium Management LLC raised its holdings in GCM Grosvenor by 169.7% in the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after purchasing an additional 263,064 shares in the last quarter. Finally, Ariel Investments LLC raised its holdings in GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after purchasing an additional 66,016 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Down 0.1 %

The business has a fifty day simple moving average of $11.10 and a 200-day simple moving average of $10.34. The firm has a market cap of $2.21 billion, a P/E ratio of -36.59 and a beta of 0.54.

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

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.76%. GCM Grosvenor’s payout ratio is presently -137.50%.

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.