The Manufacturers Life Insurance Company Buys 44,316 Shares of GCM Grosvenor Inc. $GCMG

The Manufacturers Life Insurance Company raised its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 18.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 280,406 shares of the company’s stock after buying an additional 44,316 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GCM Grosvenor were worth $2,748,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of GCM Grosvenor by 438.3% during the third quarter. UBS Group AG now owns 1,833,941 shares of the company’s stock valued at $22,136,000 after buying an additional 1,493,250 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of GCM Grosvenor by 145.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,529,439 shares of the company’s stock valued at $17,313,000 after buying an additional 906,608 shares in the last quarter. Millennium Management LLC grew its position in shares of GCM Grosvenor by 231.0% in the 3rd quarter. Millennium Management LLC now owns 1,290,222 shares of the company’s stock worth $15,573,000 after buying an additional 900,458 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of GCM Grosvenor by 200.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 706,848 shares of the company’s stock worth $8,532,000 after buying an additional 471,223 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of GCM Grosvenor by 3,351.9% during the 3rd quarter. Victory Capital Management Inc. now owns 326,278 shares of the company’s stock worth $3,938,000 after acquiring an additional 316,826 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Price Performance

NASDAQ GCMG opened at $13.58 on Friday. The company has a debt-to-equity ratio of 2.97, a current ratio of 4.05 and a quick ratio of 4.05. The stock’s fifty day moving average price is $12.36 and its 200 day moving average price is $11.36. GCM Grosvenor Inc. has a 1 year low of $9.30 and a 1 year high of $14.38. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 30.18 and a beta of 0.84.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $124.78 million during the quarter, compared to analysts’ expectations of $130.13 million. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%. As a group, equities research analysts forecast that GCM Grosvenor Inc. will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GCMG shares. Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Oppenheimer reduced their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. TD Cowen increased their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Piper Sandler raised their price objective on GCM Grosvenor from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded GCM Grosvenor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $15.33.

GCM Grosvenor 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.