GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High After Analyst Upgrade

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high during trading on Wednesday after Oppenheimer raised their price target on the stock from $14.00 to $18.00. Oppenheimer currently has an outperform rating on the stock. GCM Grosvenor traded as high as $11.72 and last traded at $11.72, with a volume of 51543 shares trading hands. The stock had previously closed at $11.14.

GCMG has been the topic of a number of other reports. Piper Sandler raised their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut 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 report on Monday, August 12th. Finally, TD Cowen upped their price target on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $12.60.

Insiders Place Their Bets

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction 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 sale, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 77.30% of the company’s stock.

Institutional Trading of GCM Grosvenor

Several institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $117,000. Wasatch Advisors LP lifted its position in shares of GCM Grosvenor by 111.5% in the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares during the period. GSA Capital Partners LLP acquired a new position in shares of GCM Grosvenor in the 1st quarter worth approximately $873,000. Russell Investments Group Ltd. lifted its position in shares of GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after purchasing an additional 130,547 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of GCM Grosvenor by 35.6% in the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock worth $1,589,000 after purchasing an additional 43,207 shares during the period. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Trading Down 0.6 %

The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -35.84 and a beta of 0.54. The stock’s 50-day moving average price is $11.05 and its 200-day moving average price is $10.30.

GCM Grosvenor (NASDAQ:GCMG) last released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $116.95 million for the quarter, compared to the consensus estimate of $117.12 million. As a group, analysts predict that GCM Grosvenor Inc. will post 0.5 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.84%. GCM Grosvenor’s payout ratio is presently -137.50%.

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.