GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High - Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $12.97 and last traded at $12.86, with a volume of 224532 shares traded. The stock had previously closed at $12.76.

Analyst Ratings Changes

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

GCM Grosvenor Stock Up 0.5 %

The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -215.33 and a beta of 0.56. The stock's 50-day simple moving average is $12.27 and its two-hundred day simple moving average is $11.41.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor's dividend payout ratio is presently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Several large investors have recently bought and sold shares of the company. Copeland Capital Management LLC purchased a new position in shares of GCM Grosvenor in the third quarter valued at approximately $58,000. Susquehanna Fundamental Investments LLC acquired a new stake in GCM Grosvenor during the 2nd quarter worth $157,000. SG Americas Securities LLC acquired a new stake in GCM Grosvenor during the 3rd quarter worth $191,000. Quest Partners LLC acquired a new stake in shares of GCM Grosvenor in the third quarter valued at about $424,000. Finally, PDT Partners LLC acquired a new stake in shares of GCM Grosvenor in the third quarter valued at about $449,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

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.