Bleakley Financial Group LLC Takes Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Bleakley Financial Group LLC bought a new stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,352 shares of the company’s stock, valued at approximately $127,000.

Several other large investors have also recently modified their holdings of GCMG. Wasatch Advisors LP boosted its stake in GCM Grosvenor by 0.9% during the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after buying an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after acquiring an additional 87,010 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of GCM Grosvenor during the 3rd quarter worth about $19,810,000. State Street Corp boosted its stake in shares of GCM Grosvenor by 2.0% during the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock worth $11,922,000 after purchasing an additional 20,225 shares during the period. Finally, Geode Capital Management LLC grew its holdings in GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after purchasing an additional 2,607 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Oppenheimer raised their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. UBS Group upped their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company 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 reduced their target price 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.70.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG opened at $13.72 on Thursday. GCM Grosvenor Inc. has a 52-week low of $8.05 and a 52-week high of $14.44. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -228.67 and a beta of 0.56. The stock has a 50 day moving average price of $12.83 and a 200 day moving average price of $11.86.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 73.06% and a net margin of 3.08%. Analysts forecast that GCM Grosvenor Inc. will post 0.51 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.21%. GCM Grosvenor’s payout ratio is currently -733.33%.

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.