GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Up 6.7% in December

GCM Grosvenor Inc. (NASDAQ:GCMG) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,900,000 shares, a growth of 6.7% from the December 15th total of 5,530,000 shares. Approximately 13.6% of the company’s stock are short sold. Based on an average daily trading volume, of 274,700 shares, the short-interest ratio is presently 21.5 days.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently made changes to their positions in GCMG. Copeland Capital Management LLC acquired a new position in GCM Grosvenor in the 3rd quarter valued at $58,000. Susquehanna Fundamental Investments LLC acquired a new position in GCM Grosvenor in the second quarter valued at about $157,000. SG Americas Securities LLC bought a new stake in GCM Grosvenor during the third quarter worth about $191,000. Quest Partners LLC acquired a new stake in GCM Grosvenor during the third quarter worth about $424,000. Finally, PDT Partners LLC bought a new position in GCM Grosvenor in the 3rd quarter valued at about $449,000. 99.95% of the stock is owned by institutional investors.

GCM Grosvenor Stock Performance

NASDAQ GCMG traded up $0.01 on Monday, reaching $12.99. The company had a trading volume of 343,321 shares, compared to its average volume of 250,308. The company’s fifty day moving average is $12.32 and its 200-day moving average is $11.48. GCM Grosvenor has a 1-year low of $8.05 and a 1-year high of $13.09. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -216.50 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GCMG shares. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Oppenheimer boosted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group boosted their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.