Massachusetts Financial Services Co. MA Purchases 87,010 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA lifted its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,485,933 shares of the company’s stock after purchasing an additional 87,010 shares during the period. Massachusetts Financial Services Co. MA’s holdings in GCM Grosvenor were worth $28,141,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Copeland Capital Management LLC purchased a new stake in GCM Grosvenor during the third quarter worth about $58,000. LRI Investments LLC purchased a new stake in GCM Grosvenor during the first quarter worth about $95,000. Price T Rowe Associates Inc. MD increased its holdings 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 worth $121,000 after buying an additional 2,341 shares during the last quarter. Quadrature Capital Ltd increased its holdings in GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after buying an additional 1,364 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in GCM Grosvenor during the second quarter worth about $157,000. 99.95% of the stock is owned by institutional investors.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the transaction, the insider now owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 77.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GCMG has been the subject of a number of research analyst reports. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.50 to $12.50 in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective 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. UBS Group lifted their target price 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 lifted their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler lifted their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, GCM Grosvenor has a consensus rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Stock Up 0.2 %

GCMG opened at $12.35 on Tuesday. The firm has a 50-day moving average price of $11.60 and a 200-day moving average price of $10.76. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -205.83 and a beta of 0.54. GCM Grosvenor Inc. has a twelve month low of $8.04 and a twelve month high of $12.58.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.56%. GCM Grosvenor’s dividend payout ratio is currently -733.33%.

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.