Bamco Inc. NY acquired a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,750,000 shares of the company's stock, valued at approximately $19,810,000. Bamco Inc. NY owned 0.93% of GCM Grosvenor as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Rhumbline Advisers increased its stake in 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 acquiring an additional 1,402 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company's stock worth $121,000 after buying an additional 2,341 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company's stock valued at $1,362,000 after buying an additional 3,047 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company's stock worth $1,224,000 after purchasing an additional 3,617 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of GCM Grosvenor in the 3rd quarter valued at $58,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on GCMG shares. UBS Group lifted their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Oppenheimer boosted their price objective on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered 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. Piper Sandler increased their price target on GCM Grosvenor from $10.50 to $11.50 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, TD Cowen downgraded GCM Grosvenor from a "buy" rating to a "hold" rating and lowered their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.80.
Read Our Latest Report on GCMG
GCM Grosvenor Stock Performance
Shares of GCMG stock traded up $0.08 on Tuesday, hitting $12.41. The stock had a trading volume of 69,677 shares, compared to its average volume of 190,294. GCM Grosvenor Inc. has a 12-month low of $8.05 and a 12-month high of $12.58. The business has a 50 day moving average of $11.69 and a 200 day moving average of $10.83.
GCM Grosvenor Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Monday, December 2nd. GCM Grosvenor's payout ratio is -733.33%.
Insiders Place Their Bets
In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the sale, the insider now owns 47,307 shares of the company's stock, valued at approximately $507,604.11. The trade was a 9.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 77.30% of the company's stock.
About GCM Grosvenor
(
Free Report)
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.
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