Cornerstone Investment Partners LLC Acquires New Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Cornerstone Investment Partners LLC bought a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 24,252 shares of the company's stock, valued at approximately $298,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in GCM Grosvenor by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company's stock valued at $1,511,000 after purchasing an additional 2,795 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of GCM Grosvenor during the fourth quarter worth approximately $536,000. Truist Financial Corp acquired a new stake in GCM Grosvenor in the fourth quarter valued at approximately $157,000. Rhumbline Advisers lifted its stake in GCM Grosvenor by 5.6% in the fourth quarter. Rhumbline Advisers now owns 58,462 shares of the company's stock worth $717,000 after acquiring an additional 3,111 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in GCM Grosvenor by 86,424.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company's stock worth $733,000 after acquiring an additional 59,633 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Oppenheimer increased their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Piper Sandler raised GCM Grosvenor from a "neutral" rating to an "overweight" rating and increased their target price for the company from $12.50 to $14.00 in a report on Monday, December 23rd. UBS Group lifted their price target on GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, TD Cowen lowered shares of GCM Grosvenor from a "buy" rating to a "hold" rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.10.

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GCM Grosvenor Stock Down 0.2 %

NASDAQ:GCMG traded down $0.03 during trading hours on Friday, reaching $12.90. 368,112 shares of the company's stock were exchanged, compared to its average volume of 230,346. GCM Grosvenor Inc. has a 1-year low of $8.49 and a 1-year high of $14.48. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 430.00 and a beta of 0.58. The company has a 50-day moving average of $13.36 and a 200 day moving average of $12.21.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. Research analysts forecast that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.41%. The ex-dividend date is Monday, March 3rd. GCM Grosvenor's payout ratio is 1,466.67%.

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.