Massachusetts Financial Services Co. MA Decreases Stock Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,318,318 shares of the company's stock after selling 167,615 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.23% of GCM Grosvenor worth $28,446,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of GCM Grosvenor during the 4th quarter worth $57,000. Quantbot Technologies LP lifted its position in GCM Grosvenor by 1,474.0% during the fourth quarter. Quantbot Technologies LP now owns 9,334 shares of the company's stock valued at $115,000 after purchasing an additional 8,741 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in GCM Grosvenor during the fourth quarter valued at about $127,000. Truist Financial Corp purchased a new stake in GCM Grosvenor in the fourth quarter worth about $157,000. Finally, Longboard Asset Management LP bought a new position in shares of GCM Grosvenor in the fourth quarter worth about $166,000. 99.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GCMG has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, December 12th. Piper Sandler reduced their price objective on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday. Finally, UBS Group upped their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.20.

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GCM Grosvenor Stock Performance

Shares of GCM Grosvenor stock traded up $0.17 on Friday, hitting $12.64. 263,782 shares of the company traded hands, compared to its average volume of 262,403. The business has a 50-day simple moving average of $13.32 and a 200 day simple moving average of $12.59. GCM Grosvenor Inc. has a 52 week low of $9.18 and a 52 week high of $14.48. The stock has a market capitalization of $2.39 billion, a P/E ratio of 421.33 and a beta of 0.65.

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

GCM Grosvenor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.48%. GCM Grosvenor's dividend payout ratio is currently 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.