GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High - Time to Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $12.10 and last traded at $12.10, with a volume of 538 shares. The stock had previously closed at $11.73.

Analyst Upgrades and Downgrades

GCMG has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. TD Cowen lifted their price target on GCM Grosvenor from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, August 9th. Piper Sandler increased their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. UBS Group boosted their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.10.

GCM Grosvenor Trading Up 4.4 %

The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -245.00 and a beta of 0.54. The company has a 50-day moving average of $11.27 and a 200-day moving average of $10.52.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. The company had revenue of $116.95 million during the quarter, compared to analyst estimates of $117.12 million. On average, research analysts forecast that GCM Grosvenor Inc. will post 0.49 earnings per share for the current year.

Insider Activity

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the transaction, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 77.30% of the company's stock.

Institutional Trading of GCM Grosvenor

Hedge funds have recently bought and sold shares of the company. Ariel Investments LLC boosted its position in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company's stock worth $44,370,000 after buying an additional 66,016 shares during the period. Vanguard Group Inc. boosted its position in GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company's stock worth $40,085,000 after acquiring an additional 37,852 shares during the period. Russell Investments Group Ltd. grew its stake in GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company's stock valued at $6,580,000 after acquiring an additional 130,547 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company's stock valued at $4,708,000 after purchasing an additional 43,600 shares during the period. Finally, Millennium Management LLC lifted its position in shares of GCM Grosvenor by 169.7% in the second quarter. Millennium Management LLC now owns 418,066 shares of the company's stock worth $4,080,000 after purchasing an additional 263,064 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other 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.