GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High at $11.54

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high on Tuesday . The company traded as high as $11.54 and last traded at $11.53, with a volume of 4143 shares. The stock had previously closed at $11.49.

Analyst Ratings Changes

Several analysts recently weighed in on GCMG shares. TD Cowen lifted their price objective on shares of GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, Oppenheimer cut their price objective on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.60.

GCM Grosvenor Stock Performance

The company has a market cap of $2.17 billion, a P/E ratio of -35.91 and a beta of 0.54. The stock has a 50 day moving average price of $10.84 and a 200 day moving average price of $10.02.

GCM Grosvenor (NASDAQ:GCMG) last released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $117.12 million. As a group, equities research analysts predict that GCM Grosvenor Inc. will post 0.5 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.83%. GCM Grosvenor’s payout ratio is currently -137.50%.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the transaction, the insider now owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 77.30% of the company’s stock.

Institutional Trading of GCM Grosvenor

Several large investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in GCM Grosvenor in the first quarter valued at about $95,000. Quadrature Capital Ltd bought a new stake in shares of GCM Grosvenor in the fourth quarter valued at about $117,000. Price T Rowe Associates Inc. MD increased its stake in GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after acquiring an additional 2,341 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in GCM Grosvenor in the 2nd quarter valued at approximately $157,000. Finally, Rhumbline Advisers lifted its position in shares of GCM Grosvenor by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock worth $574,000 after acquiring an additional 1,402 shares during the period. 99.95% of the stock is owned by institutional investors and hedge funds.

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.