GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High Following Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during trading on Thursday after UBS Group raised their price target on the stock from $13.00 to $14.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $14.48 and last traded at $14.31, with a volume of 33048 shares trading hands. The stock had previously closed at $14.41.

Several other research analysts have also recently issued reports on the company. Oppenheimer increased their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.10.

Institutional Trading of GCM Grosvenor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new stake in GCM Grosvenor during the 4th quarter valued at $568,000. Squarepoint Ops LLC boosted its position in GCM Grosvenor by 141.5% during the 4th quarter. Squarepoint Ops LLC now owns 79,652 shares of the company’s stock valued at $977,000 after acquiring an additional 46,664 shares in the last quarter. Two Sigma Advisers LP boosted its position in GCM Grosvenor by 893.7% during the 4th quarter. Two Sigma Advisers LP now owns 251,400 shares of the company’s stock valued at $3,085,000 after acquiring an additional 226,100 shares in the last quarter. Two Sigma Investments LP boosted its position in GCM Grosvenor by 145.0% during the 4th quarter. Two Sigma Investments LP now owns 298,426 shares of the company’s stock valued at $3,662,000 after acquiring an additional 176,627 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in GCM Grosvenor during the 4th quarter valued at $380,000. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Trading Down 0.9 %

The firm has a market cap of $2.69 billion, a P/E ratio of 474.00 and a beta of 0.56. The firm has a 50-day simple moving average of $13.07 and a 200-day simple moving average of $12.01.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. Research analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.09%. GCM Grosvenor’s dividend payout ratio is presently 1,466.67%.

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.