GCM Grosvenor (NASDAQ:GCMG) Stock Rating Upgraded by Piper Sandler

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) was upgraded by Piper Sandler from a "neutral" rating to an "overweight" rating in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $14.00 price target on the stock, up from their previous price target of $12.50. Piper Sandler's target price would indicate a potential upside of 15.32% from the company's current price.

Several other equities analysts have also commented on GCMG. UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. TD Cowen cut shares of GCM Grosvenor from a "buy" rating to a "hold" rating and decreased their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Oppenheimer boosted their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, GCM Grosvenor has an average rating of "Hold" and an average price target of $13.70.

GCM Grosvenor Price Performance

GCM Grosvenor stock traded up $0.39 during midday trading on Monday, reaching $12.14. The company's stock had a trading volume of 291,302 shares, compared to its average volume of 196,258. The stock has a market capitalization of $2.30 billion, a P/E ratio of -202.33 and a beta of 0.56. The stock's 50-day simple moving average is $11.95 and its 200-day simple moving average is $11.07. GCM Grosvenor has a 52-week low of $8.05 and a 52-week high of $12.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ariel Investments LLC grew its position in GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company's stock worth $44,370,000 after purchasing an additional 66,016 shares during the period. Wasatch Advisors LP grew its holdings in GCM Grosvenor by 0.9% during the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company's stock worth $36,077,000 after acquiring an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in GCM Grosvenor by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company's stock worth $28,141,000 after acquiring an additional 87,010 shares during the period. Bamco Inc. NY purchased a new position in GCM Grosvenor during the third quarter valued at approximately $19,810,000. Finally, State Street Corp lifted its holdings in GCM Grosvenor by 2.0% in the third quarter. State Street Corp now owns 1,053,204 shares of the company's stock valued at $11,922,000 after acquiring an additional 20,225 shares during the period. Hedge funds and other institutional investors 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.