GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High - Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.62 and last traded at $12.60, with a volume of 57044 shares trading hands. The stock had previously closed at $12.49.

Wall Street Analysts Forecast Growth

GCMG has been the topic of several research analyst reports. UBS Group raised their price objective 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. Oppenheimer raised their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. TD Cowen lowered shares of GCM Grosvenor from a "buy" rating to a "hold" rating and cut their price objective for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, Piper Sandler raised GCM Grosvenor from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.70.

GCM Grosvenor Trading Up 2.0 %

The stock has a market cap of $2.41 billion, a P/E ratio of -212.33 and a beta of 0.56. The business's fifty day simple moving average is $12.11 and its 200 day simple moving average is $11.24.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.11 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.45%. GCM Grosvenor's payout ratio is -733.33%.

Institutional Inflows and Outflows

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

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.