GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High on Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high on Wednesday after Oppenheimer raised their price target on the stock from $14.00 to $18.00. Oppenheimer currently has an outperform rating on the stock. GCM Grosvenor traded as high as $11.72 and last traded at $11.72, with a volume of 51543 shares changing hands. The stock had previously closed at $11.14.

A number of other research firms have also weighed in on GCMG. Piper Sandler raised their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GCM Grosvenor presently has an average rating of “Hold” and a consensus price target of $12.60.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction dated 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 owns 47,307 shares in the company, valued at $507,604.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC purchased a new position in GCM Grosvenor during the first quarter valued at approximately $95,000. Price T Rowe Associates Inc. MD grew its stake in GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after acquiring an additional 2,341 shares in the last quarter. Quadrature Capital Ltd purchased a new position in GCM Grosvenor during the fourth quarter valued at approximately $117,000. Susquehanna Fundamental Investments LLC purchased a new position in GCM Grosvenor during the second quarter valued at approximately $157,000. Finally, SG Americas Securities LLC purchased a new position in GCM Grosvenor during the third quarter valued at approximately $191,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Price Performance

The firm’s 50 day moving average is $11.02 and its 200 day moving average is $10.29. The company has a market cap of $2.17 billion, a PE ratio of -36.06 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping 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 business had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. As a group, analysts anticipate that GCM Grosvenor Inc. will post 0.5 EPS for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.81%. GCM Grosvenor’s dividend payout ratio is presently -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.