GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High – Here’s Why

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high on Monday . The stock traded as high as $14.44 and last traded at $13.97, with a volume of 97989 shares. The stock had previously closed at $13.56.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group raised their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler raised shares of 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 report on Monday, December 23rd. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, Oppenheimer increased their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GCM Grosvenor presently has an average rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Trading Down 2.5 %

The stock has a fifty day moving average price of $12.80 and a 200 day moving average price of $11.85. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -228.67 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. On average, sell-side analysts forecast that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

GCM Grosvenor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.44 annualized dividend and a yield of 3.21%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in shares of GCM Grosvenor by 0.9% in the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after purchasing an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA increased its position in GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after buying an additional 87,010 shares during the period. Bamco Inc. NY bought a new position in GCM Grosvenor in the 3rd quarter worth approximately $19,810,000. State Street Corp lifted its holdings in shares of GCM Grosvenor by 2.0% during the third quarter. State Street Corp now owns 1,053,204 shares of the company’s stock worth $11,922,000 after buying an additional 20,225 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of GCM Grosvenor by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after acquiring an additional 2,607 shares during the period. 99.95% of the stock is currently owned by 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.