GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High – What’s Next?

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high on Wednesday . The company traded as high as $12.97 and last traded at $12.86, with a volume of 224532 shares changing hands. The stock had previously closed at $12.76.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GCMG. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. Oppenheimer upped their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, UBS Group upped their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.70.

GCM Grosvenor Stock Up 0.8 %

The firm has a market cap of $2.43 billion, a P/E ratio of -214.33 and a beta of 0.56. The stock’s 50-day moving average is $12.27 and its 200-day moving average is $11.41.

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 given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio is currently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

A number of institutional investors have recently added to or reduced their stakes in GCMG. Ariel Investments LLC lifted its position 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 acquiring an additional 66,016 shares during the period. Wasatch Advisors LP lifted its position in GCM Grosvenor by 0.9% in the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after purchasing an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in GCM Grosvenor by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after buying an additional 87,010 shares in the last quarter. Bamco Inc. NY bought a new stake in GCM Grosvenor in the 3rd quarter valued at $19,810,000. Finally, State Street Corp raised its stake in shares of GCM Grosvenor by 2.0% in the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after buying an additional 20,225 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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.