Granite Investment Partners LLC Takes Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Granite Investment Partners LLC acquired a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 179,262 shares of the company's stock, valued at approximately $2,200,000. Granite Investment Partners LLC owned approximately 0.09% of GCM Grosvenor as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Martingale Asset Management L P raised its holdings in shares of GCM Grosvenor by 6.1% in the fourth quarter. Martingale Asset Management L P now owns 62,644 shares of the company's stock worth $769,000 after buying an additional 3,623 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of GCM Grosvenor in the 4th quarter valued at about $295,000. Wells Fargo & Company MN grew its holdings in GCM Grosvenor by 47.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,585 shares of the company's stock worth $253,000 after acquiring an additional 6,608 shares during the period. Trexquant Investment LP acquired a new position in shares of GCM Grosvenor in the 4th quarter valued at $1,002,000. Finally, Franklin Resources Inc. purchased a new stake in GCM Grosvenor during the fourth quarter worth $555,000. Hedge funds and other institutional investors own 99.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GCMG shares. UBS Group upped their price target on GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Piper Sandler reduced their price objective on shares of GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.20.

GCM Grosvenor Stock Performance

Shares of NASDAQ:GCMG traded down $0.05 during midday trading on Friday, hitting $12.32. The company's stock had a trading volume of 350,311 shares, compared to its average volume of 267,335. GCM Grosvenor Inc. has a 12-month low of $9.24 and a 12-month high of $14.48. The company has a market cap of $2.33 billion, a P/E ratio of 410.67 and a beta of 0.65. The business's 50 day simple moving average is $13.20 and its 200 day simple moving average is $12.62.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. On average, sell-side analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.57%. GCM Grosvenor's dividend payout ratio is presently 1,466.67%.

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.