GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $12.00

GCM Grosvenor (NASDAQ:GCMG) had its price target upped by UBS Group from $9.50 to $12.00 in a report issued on Tuesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

GCMG has been the topic of several other research reports. Piper Sandler raised their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer raised their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen raised their target price on shares of GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.10.

GCM Grosvenor Price Performance

GCMG stock opened at $11.82 on Tuesday. The company has a market capitalization of $2.23 billion, a PE ratio of -36.94 and a beta of 0.54. GCM Grosvenor has a 12 month low of $7.70 and a 12 month high of $11.84. The firm’s 50-day moving average is $11.14 and its 200 day moving average is $10.37.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly 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 company had revenue of $116.95 million for the quarter, compared to the consensus estimate of $117.12 million. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. Sell-side analysts forecast that GCM Grosvenor will post 0.5 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s payout ratio is currently -137.50%.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction that occurred 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 transaction, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 77.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in GCM Grosvenor in the 3rd quarter worth approximately $58,000. LRI Investments LLC acquired a new stake in GCM Grosvenor in the 1st quarter worth approximately $95,000. Quadrature Capital Ltd acquired a new stake in GCM Grosvenor in the 4th quarter worth approximately $117,000. Price T Rowe Associates Inc. MD boosted its stake 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. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in GCM Grosvenor in the 2nd quarter worth approximately $157,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.