GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High at $11.08

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high on Thursday . The stock traded as high as $11.08 and last traded at $11.08, with a volume of 59649 shares. The stock had previously closed at $10.80.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of GCM Grosvenor from $10.00 to $10.50 and gave the stock a “neutral” rating in a research note on Monday, May 20th. TD Cowen upped their target price on shares of GCM Grosvenor from $11.00 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, UBS Group upped their target price on shares of GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, April 12th.

GCM Grosvenor Stock Up 2.4 %

The company has a market cap of $2.08 billion, a P/E ratio of -34.63 and a beta of 0.54. The company’s 50-day moving average is $9.98 and its two-hundred day moving average is $9.34.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $108.87 million for the quarter, compared to the consensus estimate of $114.23 million. GCM Grosvenor had a net margin of 3.55% and a negative return on equity of 67.14%. On average, analysts anticipate that GCM Grosvenor Inc. will post 0.51 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 3.98%. GCM Grosvenor’s payout ratio is currently -137.50%.

Hedge Funds Weigh In On GCM Grosvenor

Several institutional investors have recently added to or reduced their stakes in GCMG. LRI Investments LLC bought a new position in GCM Grosvenor during the first quarter worth about $95,000. Price T Rowe Associates Inc. MD boosted its position in GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares during the period. Quadrature Capital Ltd boosted its position in GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after purchasing an additional 1,364 shares during the period. Ariel Investments LLC boosted its position in GCM Grosvenor by 0.9% during the first quarter. Ariel Investments LLC now owns 4,480,080 shares of the company’s stock worth $43,278,000 after purchasing an additional 37,967 shares during the period. Finally, Vanguard Group Inc. boosted its position in GCM Grosvenor by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after purchasing an additional 37,852 shares during the period. Institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.