FY2024 EPS Estimates for GCM Grosvenor Inc. Cut by Analyst (NASDAQ:GCMG)

GCM Grosvenor Inc. (NASDAQ:GCMG) – Analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for GCM Grosvenor in a note issued to investors on Wednesday, July 10th. William Blair analyst A. Klauber now expects that the company will earn $0.49 per share for the year, down from their previous estimate of $0.50. The consensus estimate for GCM Grosvenor’s current full-year earnings is $0.51 per share. William Blair also issued estimates for GCM Grosvenor’s Q4 2024 earnings at $0.19 EPS and FY2025 earnings at $0.62 EPS.

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

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

GCM Grosvenor Stock Performance

NASDAQ:GCMG opened at $10.37 on Friday. The firm’s 50-day moving average is $9.83 and its 200-day moving average is $9.23. GCM Grosvenor has a 52-week low of $7.37 and a 52-week high of $10.37. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -32.41 and a beta of 0.54.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.11 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%. GCM Grosvenor’s payout ratio is presently -137.50%.

Institutional Trading of GCM Grosvenor

Institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its holdings in shares of GCM Grosvenor by 30.3% during the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock valued at $89,000 after acquiring an additional 2,312 shares during the period. LRI Investments LLC acquired a new position in GCM Grosvenor in the first quarter valued at about $95,000. SG Americas Securities LLC bought a new stake in GCM Grosvenor during the fourth quarter worth about $109,000. Quadrature Capital Ltd acquired a new stake in shares of GCM Grosvenor during the fourth quarter worth approximately $117,000. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 2,341 shares in the last quarter. 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.