GCM Grosvenor Inc. (NASDAQ:GCMG) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,485,933 shares of the company's stock after buying an additional 87,010 shares during the period. Massachusetts Financial Services Co. MA owned 1.32% of GCM Grosvenor worth $28,141,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new stake in shares of GCM Grosvenor during the 3rd quarter valued at $58,000. LRI Investments LLC bought a new position in shares of GCM Grosvenor in the first quarter worth about $95,000. Price T Rowe Associates Inc. MD grew its position in shares of GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company's stock worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Quadrature Capital Ltd raised its stake in GCM Grosvenor by 10.5% during the 1st quarter. Quadrature Capital Ltd now owns 14,401 shares of the company's stock valued at $139,000 after purchasing an additional 1,364 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in GCM Grosvenor in the 2nd quarter worth approximately $157,000. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Stock Up 0.8 %

GCMG traded up $0.10 on Tuesday, reaching $12.45. 802,417 shares of the company traded hands, compared to its average volume of 189,975. The company has a market cap of $2.35 billion, a P/E ratio of -207.50 and a beta of 0.54. GCM Grosvenor Inc. has a one year low of $8.04 and a one year high of $12.58. The firm has a fifty day simple moving average of $11.62 and a two-hundred day simple moving average of $10.78.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, December 2nd. GCM Grosvenor's dividend payout ratio (DPR) is presently -733.33%.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 77.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on GCMG. Oppenheimer increased their price objective on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. UBS Group upped their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. TD Cowen lowered shares of GCM Grosvenor from a "buy" rating to a "hold" rating and cut their target price for the company from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Piper Sandler boosted their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and one has given 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 $12.80.

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.