GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Large Drop in Short Interest

GCM Grosvenor Inc. (NASDAQ:GCMG) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,477,068 shares, a decrease of 14.5% from the February 26th total of 1,726,778 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 788,427 shares, the days-to-cover ratio is currently 1.9 days.

GCM Grosvenor Trading Down 0.5%

GCMG traded down $0.05 during trading on Wednesday, hitting $9.75. The company’s stock had a trading volume of 450,423 shares, compared to its average volume of 687,957. GCM Grosvenor has a twelve month low of $9.30 and a twelve month high of $13.40. The stock has a market cap of $1.97 billion, a PE ratio of 26.35 and a beta of 0.80. The firm’s 50 day moving average price is $10.97 and its 200-day moving average price is $11.38. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.72 and a quick ratio of 1.72.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $177.10 million during the quarter, compared to the consensus estimate of $160.20 million. GCM Grosvenor had a return on equity of 2,505.59% and a net margin of 8.14%. On average, analysts expect that GCM Grosvenor will post 0.64 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.48 annualized dividend and a dividend yield of 4.9%. GCM Grosvenor’s dividend payout ratio (DPR) is currently 129.73%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GCMG shares. Weiss Ratings downgraded GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Oppenheimer reaffirmed an “outperform” rating and set a $24.00 price target on shares of GCM Grosvenor in a research note on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of GCM Grosvenor by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,092,278 shares of the company’s stock worth $12,629,000 after purchasing an additional 48,693 shares during the period. North Star Investment Management Corp. acquired a new stake in GCM Grosvenor during the 3rd quarter worth approximately $1,139,000. Neo Ivy Capital Management raised its holdings in GCM Grosvenor by 273.5% in the third quarter. Neo Ivy Capital Management now owns 225,598 shares of the company’s stock valued at $2,723,000 after buying an additional 165,195 shares during the period. JPMorgan Chase & Co. raised its holdings in GCM Grosvenor by 104.0% in the third quarter. JPMorgan Chase & Co. now owns 582,337 shares of the company’s stock valued at $7,029,000 after buying an additional 296,860 shares during the period. Finally, Blair William & Co. IL lifted its position in GCM Grosvenor by 11.7% during the third quarter. Blair William & Co. IL now owns 937,069 shares of the company’s stock valued at $11,310,000 after buying an additional 97,863 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.