Rhumbline Advisers Purchases 3,111 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Rhumbline Advisers raised its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,462 shares of the company’s stock after buying an additional 3,111 shares during the quarter. Rhumbline Advisers’ holdings in GCM Grosvenor were worth $717,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC lifted its position in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after acquiring an additional 3,617 shares during the period. Quest Partners LLC bought a new position in shares of GCM Grosvenor during the third quarter valued at approximately $424,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of GCM Grosvenor by 3.6% during 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 purchasing an additional 87,010 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of GCM Grosvenor by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of GCM Grosvenor in the 3rd quarter worth approximately $449,000. Institutional investors own 99.95% of the company’s stock.

Analyst Ratings Changes

GCMG has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company 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 lifted their price target for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. UBS Group increased their price objective on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.10.

GCM Grosvenor Price Performance

GCMG stock opened at $12.90 on Friday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 430.00 and a beta of 0.58. GCM Grosvenor Inc. has a 1-year low of $8.53 and a 1-year high of $14.48. The business has a fifty day moving average price of $13.36 and a 200-day moving average price of $12.21.

GCM Grosvenor (NASDAQ:GCMG) last posted its 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 net margin of 3.64% and a negative return on equity of 101.23%. As a group, analysts anticipate that GCM Grosvenor Inc. will post 0.64 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, March 3rd. GCM Grosvenor’s dividend payout ratio is currently 1,466.67%.

GCM Grosvenor 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.