GCM Grosvenor FY2024 EPS Forecast Lifted by William Blair

GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) - Research analysts at William Blair boosted their FY2024 earnings estimates for shares of GCM Grosvenor in a report released on Monday, January 13th. William Blair analyst A. Klauber now anticipates that the company will post earnings of $0.50 per share for the year, up from their prior estimate of $0.49. The consensus estimate for GCM Grosvenor's current full-year earnings is $0.50 per share. William Blair also issued estimates for GCM Grosvenor's Q4 2024 earnings at $0.18 EPS.

Several other analysts have also commented on GCMG. Piper Sandler upgraded shares of GCM Grosvenor from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. 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. TD Cowen cut GCM Grosvenor from a "buy" rating to a "hold" rating and reduced their price target for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, Oppenheimer raised their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $13.70.

GCM Grosvenor Stock Up 0.5 %

Shares of GCMG traded up $0.06 during trading hours on Thursday, reaching $12.98. 367,518 shares of the company traded hands, compared to its average volume of 318,022. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $13.05. The company's fifty day moving average price is $12.29 and its two-hundred day moving average price is $11.42. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -216.33 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors 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 yield of 3.39%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor's dividend payout ratio (DPR) is presently -733.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GCMG. Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 263,064 shares in the last quarter. Barclays PLC increased its stake in GCM Grosvenor by 56.9% during the 3rd quarter. Barclays PLC now owns 113,823 shares of the company's stock valued at $1,288,000 after purchasing an additional 41,259 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of 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 valued at $28,141,000 after acquiring an additional 87,010 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in GCM Grosvenor by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company's stock worth $1,362,000 after acquiring an additional 3,047 shares during the last quarter. Finally, Ariel Investments LLC lifted its position in GCM Grosvenor by 1.5% in the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company's stock valued at $44,370,000 after acquiring an additional 66,016 shares in the last quarter. Hedge funds and other institutional investors own 99.95% of the company's stock.

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.