GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $11.75, but opened at $12.47. GCM Grosvenor shares last traded at $12.07, with a volume of 48,530 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GCMG shares. UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Oppenheimer raised their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler upgraded shares of 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 note on Monday. Finally, TD Cowen downgraded 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.70.

GCM Grosvenor Trading Up 1.2 %

The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -204.83 and a beta of 0.56. The business has a 50-day moving average price of $11.99 and a two-hundred day moving average price of $11.11.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio is presently -733.33%.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC increased its holdings in shares of GCM Grosvenor by 56.9% during the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after purchasing an additional 41,259 shares during the period. Geode Capital Management LLC increased its stake in GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after buying an additional 2,607 shares during the period. State Street Corp increased its stake in GCM Grosvenor by 2.0% during the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after buying an additional 20,225 shares during the period. Bamco Inc. NY bought a new stake in shares of GCM Grosvenor during the 3rd quarter worth about $19,810,000. Finally, Wasatch Advisors LP lifted its stake in shares of GCM Grosvenor by 0.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after acquiring an additional 29,382 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

About GCM Grosvenor

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.