GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High – Here’s What Happened

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $13.71 and last traded at $13.47, with a volume of 2373 shares trading hands. The stock had previously closed at $13.42.

Analyst Ratings Changes

Several equities analysts have commented on GCMG shares. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. UBS Group lifted their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, Oppenheimer lifted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Stock Performance

The firm’s 50 day moving average is $12.69 and its 200 day moving average is $11.76. The stock has a market cap of $2.57 billion, a P/E ratio of -226.33 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. GCM Grosvenor had a negative return on equity of 73.06% and a net margin of 3.08%. The business had revenue of $122.93 million for the quarter, compared to the consensus estimate of $126.39 million. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, analysts expect that GCM Grosvenor Inc. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of GCM Grosvenor during the fourth quarter valued at about $57,000. Copeland Capital Management LLC acquired a new position in GCM Grosvenor during the 3rd quarter valued at approximately $58,000. Bleakley Financial Group LLC purchased a new position in shares of GCM Grosvenor in the fourth quarter worth $127,000. Truist Financial Corp acquired a new stake in shares of GCM Grosvenor during the fourth quarter worth $157,000. Finally, Longboard Asset Management LP purchased a new stake in shares of GCM Grosvenor during the fourth quarter valued at $166,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

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.