UBS Group Raises GCM Grosvenor (NASDAQ:GCMG) Price Target to $9.50

GCM Grosvenor (NASDAQ:GCMG) had its target price boosted by UBS Group from $9.00 to $9.50 in a research note published on Friday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

GCMG has been the subject of a number of other research reports. Oppenheimer decreased their target price on GCM Grosvenor from $13.00 to $12.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Piper Sandler reiterated a neutral rating and set a $10.00 target price on shares of GCM Grosvenor in a report on Wednesday, December 20th. Finally, TD Cowen upgraded GCM Grosvenor from a market perform rating to an outperform rating and boosted their target price for the stock from $9.50 to $10.00 in a report on Friday, February 16th.

GCM Grosvenor Trading Down 1.6 %

GCM Grosvenor stock opened at $9.28 on Friday. The stock has a market cap of $1.74 billion, a PE ratio of -32.00 and a beta of 0.51. The stock has a 50-day moving average price of $8.89 and a 200 day moving average price of $8.59. GCM Grosvenor has a 52 week low of $6.56 and a 52 week high of $9.70.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.08). The business had revenue of $116.56 million during the quarter, compared to analysts’ expectations of $127.29 million. GCM Grosvenor had a net margin of 2.87% and a negative return on equity of 76.61%. On average, equities analysts predict that GCM Grosvenor will post 0.54 EPS for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Thursday, February 29th. GCM Grosvenor’s dividend payout ratio (DPR) is presently -151.72%.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently bought and sold shares of GCMG. The Manufacturers Life Insurance Company raised its position in shares of GCM Grosvenor by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,606 shares of the company’s stock valued at $133,000 after purchasing an additional 1,290 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of GCM Grosvenor by 15.5% in the 1st quarter. Russell Investments Group Ltd. now owns 10,030 shares of the company’s stock valued at $78,000 after purchasing an additional 1,346 shares in the last quarter. Rhumbline Advisers raised its position in shares of GCM Grosvenor by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 54,898 shares of the company’s stock valued at $414,000 after purchasing an additional 1,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of GCM Grosvenor by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 114,176 shares of the company’s stock valued at $892,000 after purchasing an additional 2,127 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of GCM Grosvenor by 30.3% in the 4th quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock valued at $89,000 after purchasing an additional 2,312 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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.