TD Cowen cut shares of GCM Grosvenor (NASDAQ:GCMG – Free Report) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat reports. TD Cowen currently has $12.50 price target on the stock, down from their previous price target of $13.50.
A number of other research analysts also recently issued reports on GCMG. Piper Sandler boosted their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer upped their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group increased their target price on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price target on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.80.
Read Our Latest Analysis on GCM Grosvenor
GCM Grosvenor Stock Performance
GCM Grosvenor Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.79%. GCM Grosvenor’s dividend payout ratio is currently -733.33%.
Insider Buying and Selling
In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the sale, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 9.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 77.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in shares of GCM Grosvenor by 23.7% during the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Millennium Management LLC boosted its holdings in GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after purchasing an additional 263,064 shares during the last quarter. Ariel Investments LLC raised its stake in shares of GCM Grosvenor by 1.5% in the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after acquiring an additional 66,016 shares during the period. Blair William & Co. IL increased its stake in GCM Grosvenor by 35.6% during the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock worth $1,589,000 after buying an additional 43,207 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in shares of GCM Grosvenor by 374.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock valued at $892,000 after buying an additional 72,160 shares in the last quarter. 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.
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