GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High – Here’s What Happened

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price reached a new 52-week high on Friday . The company traded as high as $12.62 and last traded at $12.60, with a volume of 57044 shares. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

GCMG has been the topic of several research analyst reports. Oppenheimer raised their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $12.50 to $14.00 in a report on Monday, December 23rd. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, UBS Group upped their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Price Performance

The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -210.67 and a beta of 0.56. The stock’s fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $11.22.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio is presently -733.33%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in GCM Grosvenor by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 367,981 shares of the company’s stock worth $3,591,000 after acquiring an additional 12,692 shares during the period. Rhumbline Advisers grew its stake in shares of GCM Grosvenor by 2.4% in the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after buying an additional 1,402 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of GCM Grosvenor by 26.9% during the 2nd quarter. National Bank of Canada FI now owns 184,102 shares of the company’s stock worth $1,786,000 after acquiring an additional 39,013 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of GCM Grosvenor by 9.9% during the second quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after acquiring an additional 43,600 shares during the period. Finally, Blair William & Co. IL raised its stake in GCM Grosvenor by 14.4% in the 2nd quarter. Blair William & Co. IL now owns 188,077 shares of the company’s stock worth $1,836,000 after purchasing an additional 23,635 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.