Longboard Asset Management LP Acquires New Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Longboard Asset Management LP acquired a new stake in GCM Grosvenor Inc. (NASDAQ:GCMG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,567 shares of the company’s stock, valued at approximately $166,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after purchasing an additional 2,607 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in GCM Grosvenor by 2.6% in 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 during the period. SG Americas Securities LLC increased its position in GCM Grosvenor by 20.1% in the 4th quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock valued at $248,000 after acquiring an additional 3,379 shares during the period. Prime Capital Investment Advisors LLC increased its position in GCM Grosvenor by 3.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after acquiring an additional 3,617 shares during the period. Finally, R Squared Ltd acquired a new position in GCM Grosvenor in the 4th quarter valued at approximately $57,000. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Up 0.7 %

GCMG opened at $13.51 on Wednesday. GCM Grosvenor Inc. has a twelve month low of $8.05 and a twelve month high of $13.67. The company has a fifty day moving average of $12.67 and a 200-day moving average of $11.75. The stock has a market cap of $2.56 billion, a PE ratio of -225.17 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. The company had revenue of $122.93 million during the quarter, compared to analysts’ expectations of $126.39 million. During the same period in the prior year, the company posted $0.14 earnings per share. Sell-side analysts anticipate that GCM Grosvenor Inc. will post 0.51 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

Analyst Upgrades and Downgrades

GCMG has been the subject of several recent research reports. UBS Group upped their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Oppenheimer upped their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price target for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.70.

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.