GCM Grosvenor (GCMG) Set to Announce Quarterly Earnings on Friday

GCM Grosvenor (NASDAQ:GCMG) will post its quarterly earnings results before the market opens on Friday, November 8th. Analysts expect GCM Grosvenor to post earnings of $0.13 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

GCM Grosvenor (NASDAQ:GCMG) last released its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $116.95 million during the quarter, compared to the consensus estimate of $117.12 million. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. On average, analysts expect GCM Grosvenor to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $11.73 on Wednesday. The business has a 50 day moving average of $11.26 and a 200 day moving average of $10.51. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -234.60 and a beta of 0.54. GCM Grosvenor has a 1-year low of $7.75 and a 1-year high of $11.90.

Insider Activity at GCM Grosvenor

In related 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 transaction of $53,650.00. Following the completion of the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer boosted 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. lowered their price objective 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 boosted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, UBS Group boosted their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.10.

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.