GCM Grosvenor (NASDAQ:GCMG) PT Raised to $11.50

GCM Grosvenor (NASDAQ:GCMG) had its price objective increased by Piper Sandler from $10.50 to $11.50 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 2.68% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer dropped their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, TD Cowen lifted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.80.

GCM Grosvenor Price Performance

Shares of NASDAQ:GCMG opened at $11.20 on Wednesday. GCM Grosvenor has a 1 year low of $7.70 and a 1 year high of $11.60. The stock’s fifty day moving average price is $10.96 and its 200-day moving average price is $10.23. The company has a market cap of $2.11 billion, a P/E ratio of -35.00 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. The business had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $117.12 million. On average, sell-side analysts anticipate that GCM Grosvenor will post 0.5 earnings per share for the current year.

Insider Transactions at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 77.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in GCM Grosvenor during the 3rd quarter worth approximately $191,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of GCM Grosvenor during the 2nd quarter valued at $157,000. Millennium Management LLC lifted its stake in shares of GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after buying an additional 263,064 shares in the last quarter. Ariel Investments LLC boosted 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 worth $44,370,000 after buying an additional 66,016 shares during the period. Finally, Squarepoint Ops LLC increased its stake 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 in the last quarter. 99.95% of the stock is currently owned by institutional investors.

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.