GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.62 and last traded at $12.60, with a volume of 57044 shares traded. The stock had previously closed at $12.49.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Oppenheimer lifted their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Price Performance

The firm’s 50 day moving average is $12.11 and its 200 day moving average is $11.25. The company has a market capitalization of $2.41 billion, a PE ratio of -212.33 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

Institutional Trading of GCM Grosvenor

A number of institutional investors have recently modified their holdings of GCMG. Copeland Capital Management LLC bought a new position in GCM Grosvenor during the 3rd quarter valued at approximately $58,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor during the second quarter valued at approximately $157,000. SG Americas Securities LLC purchased a new stake in GCM Grosvenor in the third quarter worth $191,000. Quest Partners LLC bought a new stake in GCM Grosvenor in the third quarter valued at $424,000. Finally, PDT Partners LLC bought a new stake in GCM Grosvenor in the third quarter valued at $449,000. 99.95% of the stock is currently owned by hedge funds and other 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.