JPMorgan Chase & Co. Lowers GCM Grosvenor (NASDAQ:GCMG) Price Target to $10.00

GCM Grosvenor (NASDAQ:GCMG) had its target price trimmed by JPMorgan Chase & Co. from $10.50 to $10.00 in a report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on GCMG. Oppenheimer decreased their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an outperform rating for the company in a research note on Friday, August 9th. Piper Sandler upped their target price on GCM Grosvenor from $10.00 to $10.50 and gave the stock a neutral rating in a research report on Monday, May 20th. Finally, TD Cowen lifted their price target on GCM Grosvenor from $12.00 to $14.00 and gave the company a buy rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $11.60.

GCM Grosvenor Price Performance

Shares of GCMG opened at $11.02 on Monday. The business’s 50-day moving average is $10.22 and its 200-day moving average is $9.57. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -34.03 and a beta of 0.54. GCM Grosvenor has a fifty-two week low of $7.47 and a fifty-two week high of $11.47.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.11 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.99%. GCM Grosvenor’s dividend payout ratio is presently -137.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ariel Investments LLC raised its stake in shares of 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 purchasing an additional 66,016 shares during the period. Vanguard Group Inc. increased its position in shares of GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after purchasing an additional 37,852 shares during the last quarter. Wasatch Advisors LP increased its position in shares of GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock valued at $4,708,000 after buying an additional 43,600 shares during the last quarter. Institutional investors and hedge funds 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.