GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up – Here’s Why

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) gapped up before the market opened on Monday . The stock had previously closed at $11.75, but opened at $12.47. GCM Grosvenor shares last traded at $12.07, with a volume of 48,530 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GCMG shares. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.50 to $14.00 in a report on Monday. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Oppenheimer increased their target price on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, UBS Group lifted their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Stock Up 1.2 %

The business’s 50 day simple moving average is $11.99 and its 200 day simple moving average is $11.11. The company has a market capitalization of $2.32 billion, a PE ratio of -204.83 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC purchased a new position in shares of GCM Grosvenor during the 3rd quarter valued at $58,000. Susquehanna Fundamental Investments LLC purchased a new position in GCM Grosvenor in the second quarter valued at about $157,000. SG Americas Securities LLC acquired a new position in GCM Grosvenor in the 3rd quarter worth about $191,000. Quest Partners LLC purchased a new stake in shares of GCM Grosvenor during the 3rd quarter worth about $424,000. Finally, PDT Partners LLC acquired a new stake in shares of GCM Grosvenor during the 3rd quarter valued at about $449,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

About GCM Grosvenor

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.