Bamco Inc. NY Acquires New Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Bamco Inc. NY bought a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,750,000 shares of the company’s stock, valued at approximately $19,810,000. Bamco Inc. NY owned about 0.93% of GCM Grosvenor at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GCMG. Copeland Capital Management LLC purchased a new stake in GCM Grosvenor in the 3rd quarter valued at approximately $58,000. Price T Rowe Associates Inc. MD lifted its position in shares of GCM Grosvenor by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after acquiring an additional 2,341 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GCM Grosvenor during the second quarter valued at $157,000. SG Americas Securities LLC purchased a new stake in GCM Grosvenor during the 3rd quarter worth about $191,000. Finally, Quest Partners LLC acquired a new position in GCM Grosvenor in the 3rd quarter valued at about $424,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Analyst Upgrades and Downgrades

GCMG has been the subject of a number of recent research reports. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Piper Sandler boosted their price target on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased 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. Oppenheimer upped their target price on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.80.

Insiders Place Their Bets

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. This trade represents a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 77.30% of the stock is owned by company insiders.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $12.33 on Tuesday. GCM Grosvenor Inc. has a 12 month low of $8.05 and a 12 month high of $12.58. The business’s 50-day moving average is $11.69 and its two-hundred day moving average is $10.83. The firm has a market capitalization of $2.33 billion, a PE ratio of -204.67 and a beta of 0.54.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 3.57%. GCM Grosvenor’s payout ratio is currently -733.33%.

GCM Grosvenor 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.