Short Interest in GCM Grosvenor Inc. (NASDAQ:GCMG) Expands By 15.5%

GCM Grosvenor Inc. (NASDAQ:GCMG) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 3,050,000 shares, an increase of 15.5% from the July 15th total of 2,640,000 shares. Based on an average trading volume of 187,100 shares, the days-to-cover ratio is currently 16.3 days. Currently, 7.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GCMG shares. Oppenheimer decreased their target price on GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. TD Cowen increased their target price on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler increased their target price on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.60.

GCM Grosvenor Stock Performance

Shares of GCMG stock remained flat at $10.89 during mid-day trading on Friday. The company’s stock had a trading volume of 113,759 shares, compared to its average volume of 178,903. The company has a 50 day moving average of $10.25 and a 200 day moving average of $9.59. GCM Grosvenor has a 52 week low of $7.47 and a 52 week high of $11.47. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -34.03 and a beta of 0.54.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.04%. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Institutional Trading of GCM Grosvenor

Hedge funds have recently modified their holdings of the company. Ariel Investments LLC raised its holdings 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 worth $44,370,000 after buying an additional 66,016 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of GCM Grosvenor by 0.9% in 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. Wasatch Advisors LP raised its holdings in shares of GCM Grosvenor by 111.5% in the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after buying an additional 1,234,505 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after buying an additional 130,547 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after buying an additional 43,600 shares in the last quarter. Institutional investors 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.