GCM Grosvenor (NASDAQ:GCMG) Given New $12.00 Price Target at UBS Group

GCM Grosvenor (NASDAQ:GCMG) had its target price lifted by UBS Group from $9.50 to $12.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently commented on the company. Piper Sandler raised their target price on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen raised their price objective on shares of GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer upped their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.10.

GCM Grosvenor Price Performance

GCM Grosvenor stock opened at $11.70 on Tuesday. The business has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $10.40. GCM Grosvenor has a 12 month low of $7.70 and a 12 month high of $11.90. The stock has a market capitalization of $2.20 billion, a PE ratio of -36.56 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. The firm had revenue of $116.95 million during the quarter, compared to the consensus estimate of $117.12 million. As a group, equities research analysts anticipate that GCM Grosvenor will post 0.5 EPS for the current year.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -137.50%.

Insider Transactions at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the sale, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 77.30% of the company’s stock.

Institutional Trading of GCM Grosvenor

A number of hedge funds have recently bought and sold shares of the company. Ariel Investments LLC lifted its stake in shares of GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after purchasing an additional 66,016 shares during the period. Vanguard Group Inc. grew its holdings in GCM Grosvenor by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock valued at $40,085,000 after buying an additional 37,852 shares during the period. Wasatch Advisors LP increased its stake in shares of GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock valued at $22,625,000 after acquiring an additional 1,234,505 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after acquiring an additional 130,547 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of GCM Grosvenor by 9.9% in the second quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after acquiring an additional 43,600 shares during the last quarter. Institutional investors and hedge funds 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.