GCM Grosvenor (NASDAQ:GCMG) PT Raised to $18.00

GCM Grosvenor (NASDAQ:GCMG) had its price objective upped by Oppenheimer from $14.00 to $18.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on GCMG. TD Cowen upped their price objective on shares of GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Finally, Piper Sandler upped their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.60.

GCM Grosvenor Price Performance

GCMG stock opened at $11.71 on Wednesday. GCM Grosvenor has a one year low of $7.70 and a one year high of $11.77. The stock has a market cap of $2.21 billion, a PE ratio of -36.59 and a beta of 0.54. The firm has a 50 day simple moving average of $11.07 and a two-hundred day simple moving average of $10.31.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. The company had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. On average, research analysts expect that GCM Grosvenor will post 0.5 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 3.76%. GCM Grosvenor’s payout ratio is currently -137.50%.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 77.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in GCM Grosvenor in the 1st quarter worth $95,000. Price T Rowe Associates Inc. MD raised its holdings in GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Quadrature Capital Ltd bought a new position in GCM Grosvenor in the 4th quarter worth $117,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor in the 2nd quarter worth about $157,000. Finally, SG Americas Securities LLC bought a new position in shares of GCM Grosvenor in the 3rd quarter worth about $191,000. 99.95% of the stock is currently owned by institutional investors.

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.