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

GCM Grosvenor Inc. (NASDAQ:GCMG) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 2,480,000 shares, a drop of 5.3% from the May 31st total of 2,620,000 shares. Based on an average daily trading volume, of 153,200 shares, the short-interest ratio is presently 16.2 days. Currently, 5.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts have recently commented on GCMG shares. UBS Group boosted their target price on shares of GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Friday, April 12th. TD Cowen increased their price objective on shares of GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Piper Sandler raised their price objective on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Monday, May 20th.

Institutional Investors Weigh In On GCM Grosvenor

Several large investors have recently added to or reduced their stakes in GCMG. Quadrature Capital Ltd lifted its stake in shares of GCM Grosvenor by 10.5% in the 1st quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock valued at $139,000 after purchasing an additional 1,364 shares during the last quarter. New York State Common Retirement Fund lifted its position in GCM Grosvenor by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after buying an additional 2,312 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in GCM Grosvenor by 23.1% in 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. LRI Investments LLC purchased a new position in GCM Grosvenor during the first quarter worth $95,000. Finally, SG Americas Securities LLC bought a new position in GCM Grosvenor during the fourth quarter valued at $109,000. 99.95% of the stock is owned by institutional investors.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $9.79 on Thursday. The stock has a 50 day moving average price of $9.76 and a 200-day moving average price of $9.18. GCM Grosvenor has a one year low of $7.25 and a one year high of $10.20. The company has a market capitalization of $1.85 billion, a P/E ratio of -30.59 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). GCM Grosvenor had a net margin of 3.55% and a negative return on equity of 67.14%. The business had revenue of $108.87 million for the quarter, compared to the consensus estimate of $114.23 million. As a group, equities analysts predict that GCM Grosvenor will post 0.52 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 4.49%. GCM Grosvenor’s dividend payout ratio is currently -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.