Q2 2024 EPS Estimates for GCM Grosvenor Inc. (NASDAQ:GCMG) Decreased by Analyst

GCM Grosvenor Inc. (NASDAQ:GCMG) – Stock analysts at William Blair dropped their Q2 2024 earnings estimates for shares of GCM Grosvenor in a research note issued on Wednesday, July 10th. William Blair analyst A. Klauber now expects that the company will post earnings of $0.12 per share for the quarter, down from their prior forecast of $0.13. The consensus estimate for GCM Grosvenor’s current full-year earnings is $0.52 per share.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $108.87 million for the quarter, compared to analysts’ expectations of $114.23 million. GCM Grosvenor had a negative return on equity of 67.14% and a net margin of 3.55%.

Several other analysts have also recently weighed in on the company. TD Cowen raised their price target on GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, May 9th. Piper Sandler lifted their target price on shares of GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, UBS Group increased their price target on shares of GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Friday, April 12th.

GCM Grosvenor Trading Up 2.6 %

Shares of GCM Grosvenor stock opened at $10.01 on Thursday. The company’s 50-day moving average price is $9.81 and its 200-day moving average price is $9.22. GCM Grosvenor has a 12-month low of $7.35 and a 12-month high of $10.20. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -31.28 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently 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 grew its stake in shares of GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock valued at $139,000 after buying an additional 1,364 shares during the last quarter. Ariel Investments LLC increased its holdings in shares of GCM Grosvenor by 0.9% in the first quarter. Ariel Investments LLC now owns 4,480,080 shares of the company’s stock worth $43,278,000 after buying an additional 37,967 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of GCM Grosvenor by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock valued at $40,085,000 after acquiring an additional 37,852 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Monday, June 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

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.