GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $15.00

GCM Grosvenor (NASDAQ:GCMG) had its target price increased by Piper Sandler from $14.50 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Oppenheimer lowered their target price on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. JPMorgan Chase & Co. boosted their price target on GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, GCM Grosvenor has an average rating of “Moderate Buy” and a consensus price target of $15.12.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $13.53 on Tuesday. GCM Grosvenor has a 12-month low of $9.30 and a 12-month high of $14.87. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 25.53 and a beta of 0.91. The company’s 50-day moving average is $12.90 and its two-hundred day moving average is $11.95. The company has a current ratio of 3.26, a quick ratio of 1.89 and a debt-to-equity ratio of 2.36.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $145.55 million during the quarter, compared to the consensus estimate of $141.60 million. GCM Grosvenor had a net margin of 7.95% and a return on equity of 106.70%. Research analysts expect that GCM Grosvenor will post 0.69 EPS for the current year.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. GCM Grosvenor’s dividend payout ratio (DPR) is presently 90.57%.

Insider Transactions at GCM Grosvenor

In other GCM Grosvenor 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 transaction of $126,800.00. Following the completion of the sale, the chief financial officer owned 14,397 shares of the company’s stock, valued at approximately $182,553.96. The trade was a 40.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 90,000 shares of company stock valued at $1,155,350. 70.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in GCM Grosvenor by 17.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company’s stock worth $8,070,000 after purchasing an additional 122,110 shares in the last quarter. North Reef Capital Management LP lifted its position in GCM Grosvenor by 4.8% during the first quarter. North Reef Capital Management LP now owns 630,179 shares of the company’s stock valued at $6,176,000 after buying an additional 28,824 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in GCM Grosvenor by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 459,360 shares of the company’s stock valued at $4,502,000 after buying an additional 38,338 shares in the last quarter. Russell Investments Group Ltd. lifted its position in GCM Grosvenor by 20.9% during the third quarter. Russell Investments Group Ltd. now owns 329,696 shares of the company’s stock valued at $4,250,000 after buying an additional 57,040 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in GCM Grosvenor during the second quarter valued at approximately $4,226,000. 99.95% of the stock is owned by institutional investors and hedge funds.

GCM Grosvenor Company Profile

GCM Grosvenor is an alternative asset management firm that provides investment solutions across private markets and hedge fund strategies. Its offerings include private equity, infrastructure, real estate and credit investments, as well as customized portfolios and multi-manager strategies. The firm invests on behalf of institutional investors and other clients through primary investments, co-investments and secondary-market transactions. Its activities span global markets, with offices in North America, Europe and Asia.