Piper Sandler Upgrades GCM Grosvenor (NASDAQ:GCMG) to Overweight

GCM Grosvenor (NASDAQ:GCMG) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage currently has a $14.00 target price on the stock, up from their prior target price of $12.50. Piper Sandler’s price target points to a potential upside of 13.91% from the company’s current price.

Several other research analysts also recently weighed in on the company. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Oppenheimer increased their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, UBS Group boosted their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, GCM Grosvenor has an average rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Trading Up 1.2 %

NASDAQ GCMG opened at $12.29 on Monday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -204.83 and a beta of 0.56. The stock has a 50-day moving average of $11.97 and a 200 day moving average of $11.09. GCM Grosvenor has a twelve month low of $8.05 and a twelve month high of $12.58.

Institutional Investors Weigh In On GCM Grosvenor

Hedge funds have recently modified their holdings of the business. Bamco Inc. NY purchased a new stake in GCM Grosvenor during the 3rd quarter valued at about $19,810,000. Millennium Management LLC boosted its holdings in shares of GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after purchasing an additional 263,064 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of GCM Grosvenor by 3.6% in 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 in the last quarter. Squarepoint Ops LLC increased its holdings in shares of GCM Grosvenor by 374.3% in the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock valued at $892,000 after purchasing an additional 72,160 shares during the last quarter. Finally, Ariel Investments LLC lifted its position in GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares in the last quarter. 99.95% of the stock is currently 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.