Massachusetts Financial Services Co. MA Decreases Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA lowered its position in GCM Grosvenor Inc. (NASDAQ:GCMG) by 26.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,398,923 shares of the company’s stock after selling 854,233 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GCM Grosvenor were worth $23,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GCMG. LRI Investments LLC purchased a new stake in shares of GCM Grosvenor in the 1st quarter valued at $95,000. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 2,341 shares during the period. Quadrature Capital Ltd bought a new position in shares of GCM Grosvenor during the fourth quarter valued at about $117,000. Rhumbline Advisers grew its stake in shares of GCM Grosvenor by 2.4% during the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after buying an additional 1,402 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of GCM Grosvenor in the first quarter worth about $873,000. 99.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

GCM Grosvenor Stock Performance

Shares of GCMG stock opened at $11.24 on Friday. GCM Grosvenor Inc. has a fifty-two week low of $7.47 and a fifty-two week high of $11.50. The firm has a market cap of $2.12 billion, a P/E ratio of -35.13 and a beta of 0.54. The business’s 50 day moving average price is $10.82 and its 200-day moving average price is $9.98.

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

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 3.91%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -137.50%.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 77.30% of the company’s stock.

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.