GCM Grosvenor (NASDAQ:GCMG) Downgraded to “Hold” Rating by TD Cowen

TD Cowen cut shares of GCM Grosvenor (NASDAQ:GCMG) from a buy rating to a hold rating in a research note published on Monday, MarketBeat.com reports. The firm currently has $12.50 price target on the stock, down from their previous price target of $13.50.

Several other equities analysts also recently weighed in on GCMG. Piper Sandler raised their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. UBS Group raised their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Oppenheimer raised their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their price target 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, GCM Grosvenor currently has an average rating of “Hold” and an average price target of $12.80.

GCM Grosvenor Stock Down 0.1 %

Shares of GCMG opened at $11.61 on Monday. The company has a 50-day simple moving average of $11.40 and a 200-day simple moving average of $10.62. The company has a market capitalization of $2.19 billion, a PE ratio of -193.67 and a beta of 0.54. GCM Grosvenor has a 52-week low of $7.75 and a 52-week high of $12.43.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.79%. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Insiders Place Their Bets

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were 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 of the company’s stock, valued at approximately $507,604.11. This represents a 9.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GCM Grosvenor

A number of institutional investors and hedge funds have recently bought and sold shares of GCMG. Ariel Investments LLC lifted its position in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after purchasing an additional 66,016 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of GCM Grosvenor by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after acquiring an additional 37,852 shares during the last quarter. Wasatch Advisors LP lifted its position in GCM Grosvenor by 0.9% in the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after purchasing an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of GCM Grosvenor by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after acquiring an additional 87,010 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after buying an additional 130,547 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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.