GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.44 and last traded at $12.43, with a volume of 355497 shares trading hands. The stock had previously closed at $12.06.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GCMG shares. Oppenheimer lifted their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Piper Sandler boosted their price target on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.80.

GCM Grosvenor Price Performance

The stock has a market capitalization of $2.35 billion, a P/E ratio of -201.00 and a beta of 0.54. The firm has a 50 day moving average of $11.49 and a 200-day moving average of $10.69.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.54%. GCM Grosvenor’s dividend payout ratio is -733.33%.

Insider Activity at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. This represents a 9.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

A number of large investors have recently bought and sold shares of the business. Copeland Capital Management LLC acquired a new position in GCM Grosvenor during the 3rd quarter worth $58,000. LRI Investments LLC acquired a new position in GCM Grosvenor during the 1st quarter worth $95,000. Price T Rowe Associates Inc. MD lifted its holdings in GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after buying an additional 2,341 shares in the last quarter. Quadrature Capital Ltd lifted its stake in shares of GCM Grosvenor by 10.5% in the 1st quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock valued at $139,000 after purchasing an additional 1,364 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of GCM Grosvenor in the 2nd quarter valued at $157,000. 99.95% of the stock is currently owned by institutional investors.

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.