GCM Grosvenor (NASDAQ:GCMG) Reaches New 52-Week High – What’s Next?

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $13.62 and last traded at $13.59, with a volume of 16877 shares traded. The stock had previously closed at $13.53.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GCMG shares. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. Oppenheimer raised their target price on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, UBS Group raised their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.70.

GCM Grosvenor Trading Up 0.7 %

The stock’s 50-day moving average price is $12.55 and its 200-day moving average price is $11.65. The company has a market capitalization of $2.58 billion, a P/E ratio of -227.00 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $122.93 million for the quarter, compared to the consensus estimate of $126.39 million. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. During the same period last year, the firm posted $0.14 EPS. Sell-side analysts expect that GCM Grosvenor Inc. will post 0.5 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.23%. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Institutional Trading of GCM Grosvenor

A number of hedge funds and other institutional investors have recently made changes to their positions in GCMG. Bleakley Financial Group LLC acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $127,000. Longboard Asset Management LP acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $166,000. R Squared Ltd acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $57,000. Fifth Third Bancorp acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $199,000. Finally, SG Americas Securities LLC grew its stake in shares of GCM Grosvenor by 20.1% in the 4th quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock worth $248,000 after purchasing an additional 3,379 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.

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.