GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High on Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price reached a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $13.00 to $14.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $14.48 and last traded at $14.31, with a volume of 33048 shares changing hands. The stock had previously closed at $14.41.

A number of other analysts also recently issued reports on the stock. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $12.50 to $14.00 in a report on Monday, December 23rd. Oppenheimer lifted their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.10.

Hedge Funds Weigh In On GCM Grosvenor

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in GCM Grosvenor in the third quarter worth about $191,000. Copeland Capital Management LLC bought a new position in shares of GCM Grosvenor during the third quarter valued at approximately $58,000. Prime Capital Investment Advisors LLC raised its holdings in shares of GCM Grosvenor by 3.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock worth $1,224,000 after buying an additional 3,617 shares during the period. Quest Partners LLC purchased a new stake in shares of GCM Grosvenor in the third quarter worth approximately $424,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after acquiring an additional 87,010 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Stock Performance

The stock has a fifty day moving average of $13.00 and a 200-day moving average of $11.97. The company has a market cap of $2.68 billion, a PE ratio of 472.53 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. As a group, equities analysts anticipate that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, March 3rd. GCM Grosvenor’s dividend payout ratio (DPR) is presently 1,466.67%.

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.