GCM Grosvenor (NASDAQ:GCMG) Sets New 12-Month High Following Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from $9.50 to $12.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $11.78 and last traded at $11.77, with a volume of 183705 shares trading hands. The stock had previously closed at $11.72.

GCMG has been the subject of several other reports. Oppenheimer upped their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Piper Sandler increased their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, TD Cowen increased their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, GCM Grosvenor currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the transaction, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors and hedge funds have recently made changes to their positions in GCMG. Quadrature Capital Ltd bought a new position in shares of GCM Grosvenor during the 4th quarter worth about $117,000. Wasatch Advisors LP raised its holdings 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 acquiring an additional 1,234,505 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of GCM Grosvenor in the 1st quarter worth about $873,000. Russell Investments Group Ltd. raised its holdings 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 acquiring an additional 130,547 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings 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 acquiring an additional 43,207 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Performance

The company has a market cap of $2.19 billion, a price-to-earnings ratio of -36.28 and a beta of 0.54. The stock’s fifty day moving average is $11.12 and its two-hundred day moving average is $10.36.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping 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 analyst estimates of $117.12 million. On average, equities research analysts expect that GCM Grosvenor Inc. will post 0.5 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.11 dividend. 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 3.79%. GCM Grosvenor’s dividend 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.