GCM Grosvenor (NASDAQ:GCMG) Downgraded to Hold Rating by TD Cowen

TD Cowen downgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat reports. The firm currently has $12.50 target price on the stock, down from their previous target price of $13.50.

A number of other equities research analysts also recently weighed in on GCMG. JPMorgan Chase & Co. cut their target price 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. Oppenheimer boosted their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler boosted their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, GCM Grosvenor has a consensus rating of “Hold” and an average price target of $12.80.

GCM Grosvenor Trading Down 3.2 %

GCMG stock opened at $11.48 on Monday. The firm’s 50-day moving average is $11.36 and its two-hundred day moving average is $10.59. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -191.33 and a beta of 0.54. GCM Grosvenor has a 52 week low of $7.75 and a 52 week high of $12.43.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 77.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ariel Investments LLC boosted its stake in 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 purchasing an additional 66,016 shares during the period. Vanguard Group Inc. lifted its holdings in shares of GCM Grosvenor by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock valued at $40,085,000 after purchasing an additional 37,852 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after buying an additional 130,547 shares during the period. Renaissance Technologies LLC grew 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 valued at $4,708,000 after buying an additional 43,600 shares in the last quarter. Finally, Millennium Management LLC raised its position in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after buying an additional 263,064 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.