GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High at $11.54

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.54 and last traded at $11.53, with a volume of 4143 shares changing hands. The stock had previously closed at $11.49.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TD Cowen raised their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Oppenheimer reduced their price objective on GCM Grosvenor from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.60.

GCM Grosvenor Stock Up 0.3 %

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -36.00 and a beta of 0.54. The company has a 50-day moving average price of $10.84 and a 200 day moving average price of $10.02.

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

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors 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 dividend yield of 3.82%. GCM Grosvenor's dividend payout ratio is -137.50%.

Insider Buying and Selling

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor in the second quarter worth about $157,000. Millennium Management LLC grew its position in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company's stock worth $4,080,000 after buying an additional 263,064 shares in the last quarter. Ariel Investments LLC grew its position in GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company's stock worth $44,370,000 after buying an additional 66,016 shares in the last quarter. Squarepoint Ops LLC grew its position in GCM Grosvenor by 374.3% during the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company's stock worth $892,000 after buying an additional 72,160 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in GCM Grosvenor by 14.4% during the second quarter. Blair William & Co. IL now owns 188,077 shares of the company's stock valued at $1,836,000 after purchasing an additional 23,635 shares in the last quarter. 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.