GCM Grosvenor (NASDAQ:GCMG) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) announced its quarterly earnings results on Monday. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%.

GCM Grosvenor Stock Up 3.5 %

Shares of GCMG stock opened at $14.04 on Monday. The firm has a market capitalization of $2.66 billion, a PE ratio of -230.95 and a beta of 0.56. The company has a 50 day moving average price of $12.74 and a 200-day moving average price of $11.81. GCM Grosvenor has a 52 week low of $8.05 and a 52 week high of $14.60.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GCMG shares. Oppenheimer boosted their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Monday, November 11th. UBS Group boosted their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.