GCM Grosvenor (NASDAQ:GCMG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a hold rating to a buy rating in a research note published on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on GCMG. Piper Sandler boosted their price target on GCM Grosvenor from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Oppenheimer dropped their target price on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock 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 research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, GCM Grosvenor has a consensus rating of “Moderate Buy” and an average price target of $15.00.

GCM Grosvenor Price Performance

Shares of NASDAQ GCMG opened at $12.80 on Friday. GCM Grosvenor has a 1 year low of $9.30 and a 1 year high of $14.87. The stock has a market capitalization of $2.60 billion, a P/E ratio of 24.62 and a beta of 0.83. The company’s 50-day moving average is $13.16 and its 200 day moving average is $11.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89.

GCM Grosvenor (NASDAQ:GCMG) last issued 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 business 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, sell-side analysts expect that GCM Grosvenor will post 0.7 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Kathleen Sullivan sold 24,963 shares of the company’s stock in a transaction 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Pamela Bentley sold 40,000 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 24,397 shares in the company, valued at $306,426.32. This trade represents a 62.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 90,000 shares of company stock worth $1,155,350. Corporate insiders own 70.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. purchased a new stake in GCM Grosvenor in the second quarter worth approximately $129,000. Integrated Wealth Concepts LLC purchased a new stake in GCM Grosvenor during the 2nd quarter valued at $35,000. Squarepoint Ops LLC raised its stake in GCM Grosvenor by 15.9% during 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. Corient Private Wealth LP bought a new position in shares of GCM Grosvenor during the 2nd quarter valued at $444,000. Finally, Dearborn Partners LLC bought a new position in shares of GCM Grosvenor during the 2nd quarter valued at $211,000. 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 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.