GCM Grosvenor (NASDAQ:GCMG) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. TD Cowen increased their price target on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer lowered their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Weiss Ratings upgraded shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Finally, Piper Sandler upped their price target on shares of GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

GCM Grosvenor Stock Up 1.1%

NASDAQ:GCMG opened at $13.29 on Friday. The company’s 50-day simple moving average is $13.20 and its 200-day simple moving average is $11.81. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89. GCM Grosvenor has a fifty-two week low of $9.30 and a fifty-two week high of $14.87. The stock has a market capitalization of $2.70 billion, a P/E ratio of 25.56 and a beta of 0.83.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $134.34 million during the quarter, compared to analyst estimates of $131.21 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. On average, equities analysts anticipate that GCM Grosvenor will post 0.7 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.12 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.48 dividend on an annualized basis and a yield of 3.6%. GCM Grosvenor’s dividend payout ratio is currently 92.31%.

Insider Activity at GCM Grosvenor

In related news, CFO Pamela Bentley sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $12.56, for a total value of $502,400.00. Following the transaction, the chief financial officer owned 24,397 shares in the company, valued at approximately $306,426.32. This represents a 62.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 24,963 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.15, for a total transaction of $328,263.45. Following the transaction, the insider directly owned 59,832 shares of the company’s stock, valued at $786,790.80. This represents a 29.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 90,000 shares of company stock worth $1,155,350. 70.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCMG. Integrated Wealth Concepts LLC acquired a new stake in GCM Grosvenor during the 2nd quarter worth about $35,000. Squarepoint Ops LLC lifted its holdings in shares of GCM Grosvenor by 15.9% in the 2nd quarter. Squarepoint Ops LLC now owns 19,772 shares of the company’s stock valued at $243,000 after buying an additional 2,719 shares during the period. Corient Private Wealth LP purchased a new stake in shares of GCM Grosvenor in the second quarter worth about $444,000. Dearborn Partners LLC purchased a new stake in shares of GCM Grosvenor in the second quarter worth about $211,000. Finally, Globeflex Capital L P acquired a new stake in GCM Grosvenor during the second quarter worth about $1,390,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate and absolute return strategies. The company invests through a range of approaches, including primary fund investments, secondary transactions, direct investments and co-investments.

Founded in 1997, GCM Grosvenor serves institutional investors, including pension funds, endowments, foundations, sovereign wealth funds and insurance companies, as well as family offices and wealth management platforms.