Massachusetts Financial Services Co. MA Decreases Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA lowered its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 26.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,398,923 shares of the company's stock after selling 854,233 shares during the period. Massachusetts Financial Services Co. MA owned about 1.27% of GCM Grosvenor worth $23,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in GCM Grosvenor during the first quarter worth about $95,000. Quadrature Capital Ltd acquired a new position in GCM Grosvenor during the fourth quarter worth about $117,000. Price T Rowe Associates Inc. MD raised its position in 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 acquiring an additional 2,341 shares during the last quarter. Rhumbline Advisers raised its position in GCM Grosvenor by 2.4% during the second quarter. Rhumbline Advisers now owns 58,772 shares of the company's stock worth $574,000 after acquiring an additional 1,402 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in GCM Grosvenor during the first quarter worth about $873,000. Hedge funds and other institutional investors own 99.95% of the company's stock.

GCM Grosvenor Stock Performance

GCM Grosvenor stock traded down $0.12 during trading on Friday, reaching $11.24. The company had a trading volume of 507,506 shares, compared to its average volume of 177,463. GCM Grosvenor Inc. has a 12-month low of $7.47 and a 12-month high of $11.50. The stock's 50 day moving average price is $10.82 and its two-hundred day moving average price is $9.98. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -35.13 and a beta of 0.54.

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

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued 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 3.91%. GCM Grosvenor's payout ratio is -137.50%.

Insider Activity at GCM Grosvenor

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 shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 77.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer cut their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. TD Cowen lifted their target price on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.60.

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.