GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High at $11.50

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $11.50 and last traded at $11.30, with a volume of 98847 shares changing hands. The stock had previously closed at $11.45.

Analysts Set New Price Targets

GCMG has been the subject of several recent research reports. Oppenheimer cut their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. 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. Finally, TD Cowen boosted their price target on GCM Grosvenor from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Three investment 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.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.60.

GCM Grosvenor Trading Down 1.7 %

The firm has a 50-day moving average of $10.78 and a 200 day moving average of $9.95. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -35.16 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. The company had revenue of $116.95 million for the quarter, compared to the consensus estimate of $117.12 million. As a group, research analysts forecast that GCM Grosvenor Inc. will post 0.5 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 3.91%. GCM Grosvenor's dividend payout ratio is presently -137.50%.

Insiders Place Their Bets

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 77.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of GCM Grosvenor in the 1st quarter valued at approximately $873,000. Russell Investments Group Ltd. increased its holdings in shares of GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company's stock valued at $6,580,000 after acquiring an additional 130,547 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of GCM Grosvenor by 111.5% in the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company's stock valued at $22,625,000 after acquiring an additional 1,234,505 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of GCM Grosvenor by 35.6% in the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company's stock valued at $1,589,000 after acquiring an additional 43,207 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of GCM Grosvenor in the 4th quarter valued at approximately $117,000. 99.95% of the stock is currently owned by institutional investors.

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.