William Blair Comments on GCM Grosvenor Inc.’s Q2 2024 Earnings (NASDAQ:GCMG)

GCM Grosvenor Inc. (NASDAQ:GCMG) – William Blair cut their Q2 2024 earnings estimates for shares of GCM Grosvenor in a research report issued on Wednesday, July 10th. William Blair analyst A. Klauber now expects that the company will earn $0.12 per share for the quarter, down from their prior forecast of $0.13. The consensus estimate for GCM Grosvenor’s current full-year earnings is $0.51 per share.

GCMG has been the topic of a number of other reports. Piper Sandler lifted their price target on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, May 20th. UBS Group lifted their target price on shares of GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, TD Cowen upped their price target on shares of GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a research report on Thursday, May 9th.

GCM Grosvenor Stock Up 2.6 %

Shares of GCMG stock opened at $10.37 on Thursday. GCM Grosvenor has a twelve month low of $7.37 and a twelve month high of $10.37. The stock’s fifty day simple moving average is $9.83 and its 200 day simple moving average is $9.23. The firm has a market capitalization of $1.95 billion, a P/E ratio of -32.41 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). GCM Grosvenor had a negative return on equity of 67.14% and a net margin of 3.55%. The company had revenue of $108.87 million for the quarter, compared to the consensus estimate of $114.23 million.

Institutional Investors Weigh In On GCM Grosvenor

Several large investors have recently modified their holdings of GCMG. LRI Investments LLC bought a new stake in GCM Grosvenor during the first quarter valued at $95,000. Price T Rowe Associates Inc. MD grew its stake in GCM Grosvenor by 23.1% during the first 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 during the period. Quadrature Capital Ltd increased its holdings in GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after purchasing an additional 1,364 shares in the last quarter. Ariel Investments LLC lifted its stake in GCM Grosvenor by 0.9% in the first quarter. Ariel Investments LLC now owns 4,480,080 shares of the company’s stock valued at $43,278,000 after buying an additional 37,967 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after buying an additional 37,852 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Monday, June 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

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.