GCM Grosvenor (NASDAQ:GCMG) Upgraded by Piper Sandler to “Overweight” Rating

GCM Grosvenor (NASDAQ:GCMG) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Marketbeat.com reports. The firm presently has a $14.00 price target on the stock, up from their prior price target of $12.50. Piper Sandler’s price objective points to a potential upside of 13.91% from the company’s current price.

Several other research analysts have also weighed in on GCMG. Oppenheimer increased their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. UBS Group increased their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $12.50 in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $12.29 on Monday. The company’s 50-day moving average is $11.97 and its two-hundred day moving average is $11.09. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -204.83 and a beta of 0.56. GCM Grosvenor has a 1-year low of $8.05 and a 1-year high of $12.58.

Institutional Investors Weigh In On GCM Grosvenor

Several institutional investors and hedge funds have recently modified their holdings of GCMG. Copeland Capital Management LLC acquired a new position in GCM Grosvenor in the 3rd quarter valued at about $58,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of GCM Grosvenor in the second quarter valued at approximately $157,000. SG Americas Securities LLC acquired a new position in shares of GCM Grosvenor in the third quarter valued at approximately $191,000. Quest Partners LLC purchased a new stake in GCM Grosvenor during the 3rd quarter worth approximately $424,000. Finally, PDT Partners LLC purchased a new stake in GCM Grosvenor during the 3rd quarter worth approximately $449,000. 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.