GCM Grosvenor (NASDAQ:GCMG) Sets New 12-Month High on Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $9.50 to $12.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $11.78 and last traded at $11.77, with a volume of 183705 shares changing hands. The stock had previously closed at $11.72.

Other equities research analysts have also recently issued reports about the company. Oppenheimer upped their price objective on GCM Grosvenor from $14.00 to $18.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. Finally, Piper Sandler upped their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.10.

Insider Activity

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the sale, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 77.30% of the company's stock.

Institutional Investors Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in GCM Grosvenor in the fourth quarter worth $117,000. Wasatch Advisors LP boosted its stake in GCM Grosvenor by 111.5% in the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company's stock worth $22,625,000 after purchasing an additional 1,234,505 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in GCM Grosvenor during the 1st quarter valued at about $873,000. Russell Investments Group Ltd. increased its stake in GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company's stock valued at $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in GCM Grosvenor by 35.6% during the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company's stock valued at $1,589,000 after purchasing an additional 43,207 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Trading Down 0.1 %

The firm has a fifty day moving average of $11.10 and a 200 day moving average of $10.34. The company has a market capitalization of $2.21 billion, a P/E ratio of -36.59 and a beta of 0.54.

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

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.76%. GCM Grosvenor's payout ratio is presently -137.50%.

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.