GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High After Analyst Upgrade

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high 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.

A number of other brokerages have also weighed in on GCMG. Piper Sandler upped their target price on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. TD Cowen lifted their target price on shares of GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer increased their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, GCM Grosvenor has an average rating of “Hold” and a consensus price target of $13.10.

Insider Buying and Selling

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the 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 transaction, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 77.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GCMG. Copeland Capital Management LLC purchased a new stake in GCM Grosvenor during the 3rd quarter valued at about $58,000. SG Americas Securities LLC purchased a new stake in shares of GCM Grosvenor during the third quarter valued at approximately $191,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor in the second quarter worth approximately $157,000. Millennium Management LLC increased its stake in shares of GCM Grosvenor by 169.7% in the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the period. Finally, Ariel Investments LLC raised its holdings in GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after buying an additional 66,016 shares during the last quarter. 99.95% of the stock is owned by institutional investors.

GCM Grosvenor Stock Performance

The firm has a market cap of $2.21 billion, a PE ratio of -36.00 and a beta of 0.54. The company’s 50-day simple moving average is $11.10 and its two-hundred day simple moving average is $10.34.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly 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. The company had revenue of $116.95 million for 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, analysts expect that GCM Grosvenor Inc. will post 0.5 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s payout ratio is -137.50%.

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.