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

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high during mid-day 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. The stock had previously closed at $11.72.

Several other brokerages have also issued reports on GCMG. Piper Sandler increased their target price on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. TD Cowen raised their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer upped 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, GCM Grosvenor currently has a consensus rating of “Hold” and a consensus price target of $13.10.

Insider Activity

In related 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 sale, the insider now directly owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GCMG. Copeland Capital Management LLC bought a new stake in shares of GCM Grosvenor in the 3rd quarter worth $58,000. SG Americas Securities LLC purchased a new stake in shares of GCM Grosvenor during the third quarter valued at $191,000. Susquehanna Fundamental Investments LLC bought a new stake in GCM Grosvenor in the 2nd quarter worth about $157,000. Millennium Management LLC raised its position in GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the last quarter. Finally, Ariel Investments LLC raised its position in GCM Grosvenor by 1.5% in the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares during the last quarter. 99.95% of the stock is owned by institutional investors.

GCM Grosvenor Trading Up 0.1 %

The company’s 50 day simple moving average is $11.10 and its 200-day simple moving average is $10.34. The firm has a market cap of $2.21 billion, a P/E ratio of -36.00 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $117.12 million. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. On average, sell-side analysts anticipate that GCM Grosvenor Inc. will post 0.5 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio (DPR) 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.