GCM Grosvenor (NASDAQ:GCMG) Given New $13.00 Price Target at Piper Sandler

GCM Grosvenor (NASDAQ:GCMG) had its target price reduced by research analysts at Piper Sandler from $14.50 to $13.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 35.35% from the company’s current price.

A number of other brokerages have also issued reports on GCMG. Weiss Ratings lowered GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Oppenheimer reaffirmed an “outperform” rating and issued 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

GCM Grosvenor Price Performance

Shares of NASDAQ:GCMG traded down $0.07 during trading on Tuesday, reaching $9.61. The stock had a trading volume of 127,712 shares, compared to its average volume of 669,772. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.72 and a current ratio of 1.72. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.29. The stock has a market cap of $1.94 billion, a PE ratio of 25.96 and a beta of 0.88. GCM Grosvenor has a 1-year low of $9.30 and a 1-year high of $13.22.

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

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Investment Partners LLC boosted its stake in GCM Grosvenor by 2.3% during the third quarter. Cornerstone Investment Partners LLC now owns 39,645 shares of the company’s stock worth $479,000 after buying an additional 876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in GCM Grosvenor by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after buying an additional 1,412 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in GCM Grosvenor by 44.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock worth $52,000 after buying an additional 1,417 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in GCM Grosvenor by 1.0% during the fourth quarter. Taylor Frigon Capital Management LLC now owns 154,837 shares of the company’s stock worth $1,753,000 after buying an additional 1,573 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after buying an additional 1,743 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

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.