GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Update

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,530,000 shares, a growth of 43.3% from the November 30th total of 3,860,000 shares. Currently, 12.7% of the company’s stock are sold short. Based on an average daily volume of 249,600 shares, the short-interest ratio is currently 22.2 days.

GCM Grosvenor Stock Performance

GCMG traded up $0.04 on Monday, hitting $12.26. 81,594 shares of the company were exchanged, compared to its average volume of 195,998. The stock’s fifty day moving average is $12.04 and its 200-day moving average is $11.16. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $12.58. The company has a market cap of $2.32 billion, a PE ratio of -204.33 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s payout ratio is presently -733.33%.

Analyst Upgrades and Downgrades

GCMG has been the subject of several research reports. Oppenheimer increased their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the company from $13.50 to $12.50 in a report on Monday, November 11th. UBS Group increased their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.70.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of GCM Grosvenor by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 367,981 shares of the company’s stock valued at $3,591,000 after acquiring an additional 12,692 shares during the period. Rhumbline Advisers grew its holdings in GCM Grosvenor by 2.4% during the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock worth $574,000 after purchasing an additional 1,402 shares during the period. National Bank of Canada FI increased its position in GCM Grosvenor by 26.9% during the second quarter. National Bank of Canada FI now owns 184,102 shares of the company’s stock worth $1,786,000 after buying an additional 39,013 shares during the last quarter. Renaissance Technologies LLC raised its stake in GCM Grosvenor by 9.9% in the second quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock valued at $4,708,000 after buying an additional 43,600 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of GCM Grosvenor by 14.4% in the second quarter. Blair William & Co. IL now owns 188,077 shares of the company’s stock valued at $1,836,000 after buying an additional 23,635 shares during the last quarter. 99.95% of the stock is owned by institutional investors.

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.