GCM Grosvenor (NASDAQ:GCMG) Downgraded to "Hold" Rating by TD Cowen

TD Cowen lowered shares of GCM Grosvenor (NASDAQ:GCMG - Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $12.50 price objective on the stock, down from their previous price objective of $13.50.

A number of other brokerages have also recently issued reports on GCMG. Piper Sandler raised their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on GCM Grosvenor from $10.50 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. Oppenheimer boosted their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a "neutral" rating in a 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.80.

GCM Grosvenor Stock Down 3.0 %

GCM Grosvenor stock traded down $0.35 during midday trading on Monday, hitting $11.51. The stock had a trading volume of 211,441 shares, compared to its average volume of 178,506. The business has a fifty day moving average price of $11.35 and a 200 day moving average price of $10.58. GCM Grosvenor has a 12 month low of $7.75 and a 12 month high of $12.43.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $116.95 million during the quarter, compared to the consensus estimate of $117.12 million. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. On average, sell-side analysts forecast that GCM Grosvenor will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor 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 transaction, the insider now directly owns 47,307 shares of the company's stock, valued at approximately $507,604.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Institutional Trading of GCM Grosvenor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd boosted its holdings in shares of GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company's stock worth $139,000 after buying an additional 1,364 shares during the period. Rhumbline Advisers raised its stake in GCM Grosvenor by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company's stock valued at $574,000 after purchasing an additional 1,402 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of GCM Grosvenor by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company's stock valued at $121,000 after purchasing an additional 2,341 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of GCM Grosvenor by 3.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company's stock worth $1,224,000 after buying an additional 3,617 shares during the period. Finally, Copeland Capital Management LLC acquired a new position in GCM Grosvenor during the third quarter valued at $58,000. 99.95% of the stock is currently owned by institutional investors.

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.