GCM Grosvenor (NASDAQ:GCMG) Sets New 12-Month High at $11.50

GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high on Wednesday . The stock traded as high as $11.50 and last traded at $11.30, with a volume of 98847 shares changing hands. The stock had previously closed at $11.45.

Wall Street Analyst Weigh In

Several analysts have issued reports on GCMG shares. JPMorgan Chase & Co. lowered their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Oppenheimer lowered their price objective on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen increased their target price on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.60.

GCM Grosvenor Price Performance

The stock has a market capitalization of $2.13 billion, a P/E ratio of -35.78 and a beta of 0.54. The stock has a fifty day moving average price of $10.75 and a 200 day moving average price of $9.94.

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

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -137.50%.

Insiders Place Their Bets

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the sale, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 77.30% of the company’s stock.

Institutional Trading of GCM Grosvenor

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP increased its position in shares of GCM Grosvenor by 111.5% in the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares during the last quarter. Millennium Management LLC grew its stake 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 in the last quarter. Russell Investments Group Ltd. grew its stake in GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after buying an additional 130,547 shares in the last quarter. GSA Capital Partners LLP purchased a new position in GCM Grosvenor in the 1st quarter worth approximately $873,000. Finally, Squarepoint Ops LLC increased its holdings in shares of GCM Grosvenor by 374.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock worth $892,000 after buying an additional 72,160 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.