Short Interest in GCM Grosvenor Inc. (NASDAQ:GCMG) Increases By 6.7%

GCM Grosvenor Inc. (NASDAQ:GCMG) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,900,000 shares, an increase of 6.7% from the December 31st total of 5,530,000 shares. Currently, 13.6% of the shares of the company are sold short. Based on an average daily volume of 274,700 shares, the short-interest ratio is presently 21.5 days.

GCM Grosvenor Price Performance

NASDAQ GCMG traded up $0.23 during mid-day trading on Tuesday, hitting $13.65. The stock had a trading volume of 163,137 shares, compared to its average volume of 365,501. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -227.17 and a beta of 0.56. GCM Grosvenor has a twelve month low of $8.05 and a twelve month high of $13.67. The firm’s 50 day moving average is $12.65 and its 200 day moving average is $11.73.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results 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. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. The business had revenue of $122.93 million during the quarter, compared to analysts’ expectations of $126.39 million. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, equities research analysts expect that GCM Grosvenor will post 0.51 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.11 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.22%. GCM Grosvenor’s payout ratio is currently -733.33%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new position in GCM Grosvenor during the 4th quarter worth about $157,000. Rhumbline Advisers lifted its holdings in GCM Grosvenor by 5.6% during the 4th quarter. Rhumbline Advisers now owns 58,462 shares of the company’s stock worth $717,000 after buying an additional 3,111 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of GCM Grosvenor by 86,424.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock worth $733,000 after acquiring an additional 59,633 shares during the period. Bleakley Financial Group LLC purchased a new stake in GCM Grosvenor during the 4th quarter worth about $127,000. Finally, Longboard Asset Management LP acquired a new stake in GCM Grosvenor in the 4th quarter valued at about $166,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price objective for the company from $13.50 to $12.50 in a report on Monday, November 11th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. Oppenheimer boosted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their price target 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 research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.70.

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.