GCM Grosvenor (NASDAQ:GCMG) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a neutral rating to an overweight rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $14.00 price objective on the stock, up from their prior price objective of $12.50.

GCMG has been the subject of a number of other research reports. Oppenheimer raised their target price on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. UBS Group upped their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, GCM Grosvenor presently has an average rating of “Hold” and an average target price of $13.70.

GCM Grosvenor Trading Up 3.3 %

Shares of GCMG opened at $12.14 on Monday. The firm has a market capitalization of $2.30 billion, a PE ratio of -202.33 and a beta of 0.56. The stock’s 50 day moving average is $11.95 and its two-hundred day moving average is $11.07. GCM Grosvenor has a twelve month low of $8.05 and a twelve month high of $12.58.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its holdings in GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after buying an additional 263,064 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of GCM Grosvenor by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after acquiring an additional 87,010 shares in the last quarter. Ariel Investments LLC boosted its stake in shares of GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after acquiring an additional 66,016 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of GCM Grosvenor by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock valued at $1,362,000 after acquiring an additional 3,047 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in 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 purchasing an additional 72,160 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.