GCM Grosvenor (NASDAQ:GCMG) Stock Price Expected to Rise, Oppenheimer Analyst Says

GCM Grosvenor (NASDAQ:GCMG - Free Report) had its price target increased by Oppenheimer from $18.00 to $20.00 in a research report sent to investors on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

GCMG has been the topic of several other research reports. TD Cowen downgraded GCM Grosvenor from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Piper Sandler raised their target price 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. Finally, UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.20.

GCM Grosvenor Trading Down 0.2 %

Shares of GCMG traded down $0.03 on Thursday, reaching $12.35. 138,506 shares of the company's stock were exchanged, compared to its average volume of 192,117. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $12.58. The stock has a market capitalization of $2.34 billion, a P/E ratio of -206.33 and a beta of 0.56. The business has a 50 day moving average price of $11.84 and a two-hundred day moving average price of $10.96.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.56%. GCM Grosvenor's payout ratio is -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in GCM Grosvenor by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company's stock worth $574,000 after purchasing an additional 1,402 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company's stock valued at $121,000 after acquiring an additional 2,341 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company's stock valued at $11,375,000 after acquiring an additional 2,607 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of GCM Grosvenor by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company's stock valued at $1,362,000 after acquiring an additional 3,047 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its position in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company's stock worth $1,224,000 after acquiring an additional 3,617 shares during 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.