GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High After Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares hit a new 52-week high during mid-day trading on Wednesday after Oppenheimer raised their price target on the stock from $14.00 to $18.00. Oppenheimer currently has an outperform rating on the stock. GCM Grosvenor traded as high as $11.72 and last traded at $11.72, with a volume of 51543 shares traded. The stock had previously closed at $11.14.

Other equities analysts have also recently issued reports about the company. Piper Sandler lifted their target price on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lifted their price target on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, GCM Grosvenor has an average rating of “Hold” and a consensus price target of $12.60.

Insider Activity

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the transaction, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 77.30% of the company’s stock.

Institutional Trading of GCM Grosvenor

Several institutional investors have recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in GCM Grosvenor in the 1st quarter valued at approximately $95,000. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 acquiring an additional 2,341 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of GCM Grosvenor during the fourth quarter worth $117,000. Susquehanna Fundamental Investments LLC acquired a new stake in GCM Grosvenor during the second quarter valued at $157,000. Finally, SG Americas Securities LLC purchased a new position in GCM Grosvenor in the third quarter valued at about $191,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Up 5.7 %

The firm has a 50-day simple moving average of $11.00 and a two-hundred day simple moving average of $10.28. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -34.81 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. On average, sell-side analysts forecast that GCM Grosvenor Inc. will post 0.5 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.74%. GCM Grosvenor’s dividend payout ratio (DPR) is -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.