GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High After Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $13.00 to $14.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $14.48 and last traded at $14.31, with a volume of 33048 shares. The stock had previously closed at $14.41.

Several other research analysts also recently issued reports on the stock. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Oppenheimer increased their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.10.

Institutional Trading of GCM Grosvenor

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its position in GCM Grosvenor by 56.9% in the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after acquiring an additional 41,259 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of GCM Grosvenor by 232.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock worth $1,143,000 after buying an additional 70,565 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after buying an additional 87,010 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of GCM Grosvenor by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after buying an additional 3,047 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after buying an additional 2,607 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Down 0.5 %

The company’s 50-day simple moving average is $13.04 and its 200 day simple moving average is $11.98. The stock has a market cap of $2.71 billion, a P/E ratio of 478.17 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. Research analysts anticipate that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.07%. GCM Grosvenor’s dividend payout ratio is 1,466.67%.

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.