GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High - Time to Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $12.90 and last traded at $12.86, with a volume of 384938 shares. The stock had previously closed at $12.72.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GCMG. Piper Sandler upgraded shares of GCM Grosvenor from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $12.50 to $14.00 in a report on Monday, December 23rd. TD Cowen cut shares of GCM Grosvenor from a "buy" rating to a "hold" rating and cut their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Oppenheimer upped their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.70.

GCM Grosvenor Stock Performance

The business's 50-day moving average price is $12.20 and its 200 day moving average price is $11.32. The company has a market cap of $2.43 billion, a P/E ratio of -214.33 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.42%. GCM Grosvenor's dividend payout ratio is -733.33%.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of 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 purchasing an additional 1,402 shares during the last quarter. Geode Capital Management LLC grew its holdings in GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company's stock valued at $11,375,000 after buying an additional 2,607 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in GCM Grosvenor by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company's stock worth $1,362,000 after buying an additional 3,047 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of GCM Grosvenor by 3.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company's stock worth $1,224,000 after buying an additional 3,617 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new stake in shares of GCM Grosvenor during the third quarter worth $58,000. 99.95% of the stock is owned by institutional investors.

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.