GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up - Should You Buy?

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $11.75, but opened at $12.47. GCM Grosvenor shares last traded at $12.07, with a volume of 48,530 shares.

Wall Street Analysts Forecast Growth

GCMG has been the subject of a number of research analyst reports. UBS Group increased their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Oppenheimer boosted their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, December 12th. Piper Sandler upgraded GCM Grosvenor from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $12.50 to $14.00 in a report on Monday. Finally, TD Cowen cut shares of GCM Grosvenor from a "buy" rating to a "hold" rating and lowered their target price for the stock 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 company's stock. According to data from MarketBeat, GCM Grosvenor has an average rating of "Hold" and an average target price of $13.70.

GCM Grosvenor Price Performance

The company has a market capitalization of $2.30 billion, a PE ratio of -202.33 and a beta of 0.56. The business's 50 day simple moving average is $11.95 and its 200 day simple moving average is $11.07.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor's payout ratio is presently -733.33%.

Hedge Funds Weigh In On GCM Grosvenor

Several large investors have recently modified their holdings of GCMG. Copeland Capital Management LLC purchased a new stake in GCM Grosvenor in the 3rd quarter valued at about $58,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GCM Grosvenor during the second quarter valued at about $157,000. SG Americas Securities LLC purchased a new stake in shares of GCM Grosvenor in the 3rd quarter valued at approximately $191,000. Quest Partners LLC purchased a new stake in shares of GCM Grosvenor in the 3rd quarter valued at approximately $424,000. Finally, PDT Partners LLC purchased a new position in shares of GCM Grosvenor during the 3rd quarter worth approximately $449,000. Institutional investors and hedge funds own 99.95% of the company's stock.

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.