GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High at $11.50

GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.50 and last traded at $11.30, with a volume of 98847 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

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

GCM Grosvenor Stock Down 0.3 %

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -35.50 and a beta of 0.54. The business’s fifty day moving average is $10.78 and its two-hundred day moving average is $9.95.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $116.95 million during the quarter, compared to the consensus estimate of $117.12 million. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. As a group, sell-side analysts expect that GCM Grosvenor Inc. will post 0.5 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Insider Transactions at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the sale, the insider now directly owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 77.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new position in shares of GCM Grosvenor in the 1st quarter valued at $95,000. Quadrature Capital Ltd purchased a new position in shares of GCM Grosvenor during the fourth quarter worth about $117,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of GCM Grosvenor in the 2nd quarter valued at about $157,000. Finally, Rhumbline Advisers boosted 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 valued at $574,000 after purchasing 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.