GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $20.00

GCM Grosvenor (NASDAQ:GCMG) had its target price raised by Oppenheimer from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 60.64% from the stock’s previous close.

Other research analysts have also issued reports about the company. UBS Group upped their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Piper Sandler lifted their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.20.

GCM Grosvenor Stock Up 0.8 %

GCM Grosvenor stock opened at $12.45 on Thursday. The business has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $10.99. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $12.58. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -207.50 and a beta of 0.56.

Institutional Investors Weigh In On GCM Grosvenor

Several institutional investors and hedge funds have recently made changes to their positions in GCMG. Millennium Management LLC increased its position in shares of GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after purchasing an additional 263,064 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 worth $28,141,000 after buying an additional 87,010 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of GCM Grosvenor by 1.5% during the second 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 in the last quarter. Squarepoint Ops LLC raised its stake in shares of GCM Grosvenor by 374.3% in the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock valued at $892,000 after acquiring an additional 72,160 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in shares of GCM Grosvenor in the 3rd quarter worth approximately $19,810,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.