Piper Sandler Cuts GCM Grosvenor (NASDAQ:GCMG) Price Target to $14.50

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) had its price objective reduced by equities research analysts at Piper Sandler from $16.00 to $14.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 14.72% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. UBS Group raised their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Oppenheimer raised their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, GCM Grosvenor has a consensus rating of "Hold" and an average price target of $14.20.

GCM Grosvenor Stock Up 1.4 %

GCMG traded up $0.17 during mid-day trading on Tuesday, reaching $12.64. 263,782 shares of the company traded hands, compared to its average volume of 262,403. The stock has a market capitalization of $2.39 billion, a P/E ratio of 421.33 and a beta of 0.65. GCM Grosvenor has a 52-week low of $9.18 and a 52-week high of $14.48. The company's fifty day moving average price is $13.32 and its 200-day moving average price is $12.59.

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GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. As a group, sell-side analysts forecast that GCM Grosvenor will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of GCM Grosvenor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake 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 worth $1,362,000 after acquiring an additional 3,047 shares during the last quarter. State Street Corp lifted its position in shares of GCM Grosvenor by 2.0% during the third quarter. State Street Corp now owns 1,053,204 shares of the company's stock valued at $11,922,000 after buying an additional 20,225 shares during the last quarter. Barclays PLC boosted its stake in GCM Grosvenor by 56.9% in the third quarter. Barclays PLC now owns 113,823 shares of the company's stock valued at $1,288,000 after acquiring an additional 41,259 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company's stock worth $11,375,000 after purchasing an additional 2,607 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in GCM Grosvenor by 232.0% in the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company's stock worth $1,143,000 after acquiring an additional 70,565 shares in the last quarter. Hedge funds and other institutional investors own 99.95% of the company's stock.

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.