Oppenheimer Boosts GCM Grosvenor (NASDAQ:GCMG) Price Target to $20.00

GCM Grosvenor (NASDAQ:GCMG) had its price objective lifted by research analysts at Oppenheimer from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 60.64% from the company’s previous close.

Several other analysts also recently commented on GCMG. Piper Sandler boosted their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. UBS Group upped 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. Finally, TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their target price for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, GCM Grosvenor currently has a consensus rating of “Hold” and an average target price of $13.20.

GCM Grosvenor Price Performance

Shares of GCM Grosvenor stock opened at $12.45 on Thursday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -207.50 and a beta of 0.56. The stock has a 50-day simple moving average of $11.88 and a 200-day simple moving average of $10.99. GCM Grosvenor has a 52-week low of $8.05 and a 52-week high of $12.58.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after acquiring an additional 263,064 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after purchasing an additional 87,010 shares during the period. Ariel Investments LLC grew its holdings in GCM Grosvenor by 1.5% in 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. Squarepoint Ops LLC increased its position in GCM Grosvenor by 374.3% in the 2nd quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock worth $892,000 after buying an additional 72,160 shares during the period. Finally, Bamco Inc. NY acquired a new position in shares of GCM Grosvenor during the third quarter worth approximately $19,810,000. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

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.