GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High Following Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $13.00 to $14.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $14.48 and last traded at $14.31, with a volume of 33048 shares trading hands. The stock had previously closed at $14.41.

GCMG has been the subject of a number of other reports. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Oppenheimer raised their target price on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.10.

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in shares of GCM Grosvenor by 9.7% in the 4th quarter. Ameriprise Financial Inc. now owns 5,892,934 shares of the company’s stock worth $72,306,000 after buying an additional 519,226 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of GCM Grosvenor by 0.9% in the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after acquiring an additional 29,382 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of GCM Grosvenor by 3.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after acquiring an additional 87,010 shares in the last quarter. Bamco Inc. NY raised its position in shares of GCM Grosvenor by 25.7% in the 4th quarter. Bamco Inc. NY now owns 2,200,000 shares of the company’s stock worth $26,994,000 after purchasing an additional 450,000 shares during the last quarter. Finally, State Street Corp boosted its stake in GCM Grosvenor by 2.0% in the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock worth $11,922,000 after purchasing an additional 20,225 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Performance

The company has a market capitalization of $2.68 billion, a PE ratio of 472.53 and a beta of 0.56. The company’s 50-day moving average is $13.00 and its 200 day moving average is $11.97.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. On average, analysts forecast that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, March 3rd. GCM Grosvenor’s payout ratio is 1,466.67%.

GCM Grosvenor Company Profile

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.