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 report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently issued reports on GCMG. Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Oppenheimer cut their price target on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. 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 report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.00.

GCM Grosvenor Stock Down 0.9%

Shares of GCM Grosvenor stock opened at $13.08 on Friday. The company has a market capitalization of $2.65 billion, a P/E ratio of 25.15 and a beta of 0.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. The business has a 50-day moving average of $13.29 and a two-hundred day moving average of $12.05. GCM Grosvenor has a 1 year low of $9.30 and a 1 year high of $14.87.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Monday, August 10th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. The company had revenue of $134.34 million for the quarter, compared to analyst estimates of $131.21 million. As a group, equities analysts predict that GCM Grosvenor will post 0.70 EPS for the current year.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. GCM Grosvenor’s dividend payout ratio (DPR) is currently 92.31%.

Insider Activity

In other news, CFO Pamela Bentley sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $12.68, for a total value of $126,800.00. Following the sale, the chief financial officer directly owned 14,397 shares in the company, valued at $182,553.96. The trade was a 40.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 15,037 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total value of $197,886.92. Following the transaction, the insider directly owned 44,795 shares of the company’s stock, valued at $589,502.20. This represents a 25.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 90,000 shares of company stock worth $1,155,350 in the last three months. Company insiders own 70.70% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

Several institutional investors have recently bought and sold shares of GCMG. Renaissance Technologies LLC boosted its holdings in GCM Grosvenor by 0.5% during the first quarter. Renaissance Technologies LLC now owns 243,700 shares of the company’s stock worth $2,388,000 after purchasing an additional 1,200 shares during the last quarter. Squarepoint Ops LLC increased its stake in 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 last quarter. Integrated Wealth Concepts LLC acquired a new stake in GCM Grosvenor in the 2nd quarter valued at $35,000. Bank of America Corp DE increased its stake in GCM Grosvenor by 8.8% in the 1st quarter. Bank of America Corp DE now owns 94,185 shares of the company’s stock valued at $923,000 after buying an additional 7,607 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new stake in GCM Grosvenor during the 1st quarter worth about $98,000. Institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions for institutional investors, family offices, financial intermediaries and other qualified investors. The company manages portfolios across private equity, infrastructure, real estate, absolute return strategies and other alternative investments.

Its offerings include customized multi-strategy portfolios, direct and secondary investments, co-investments and specialized strategies designed to provide access to private markets and alternative sources of return.