Quest Partners LLC Acquires Shares of 37,493 GCM Grosvenor Inc. (NASDAQ:GCMG)

Quest Partners LLC bought a new position in GCM Grosvenor Inc. (NASDAQ:GCMG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 37,493 shares of the company’s stock, valued at approximately $424,000.

A number of other large investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC boosted its holdings in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after acquiring an additional 3,617 shares during the period. Copeland Capital Management LLC bought a new stake in shares of GCM Grosvenor during the third quarter worth $58,000. SG Americas Securities LLC purchased a new stake in shares of GCM Grosvenor during the third quarter valued at $191,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor in the second quarter worth about $157,000. Finally, Millennium Management LLC increased its stake in GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Trading Up 0.7 %

Shares of NASDAQ GCMG opened at $12.33 on Monday. The stock has a market capitalization of $2.33 billion, a PE ratio of -205.50 and a beta of 0.54. GCM Grosvenor Inc. has a 12-month low of $8.04 and a 12-month high of $12.58. The stock’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $10.74.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.57%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm’s 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 sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. This trade represents a 9.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 77.30% of the stock is owned by insiders.

Analysts Set New Price Targets

GCMG has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Oppenheimer raised their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on 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 downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, UBS Group upped their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, GCM Grosvenor currently has an average rating of “Hold” and a consensus target price of $12.80.

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.