Grosvenor Capital Management (NASDAQ:GCMG) Price Target Cut to $11.00

Grosvenor Capital Management (NASDAQ:GCMG – Get Rating) had its target price dropped by equities researchers at Oppenheimer from $12.00 to $11.00 in a research report issued on Wednesday, The Fly reports. Oppenheimer’s price target would indicate a potential upside of 20.48% from the company’s previous close.

Several other analysts also recently commented on GCMG. UBS Group initiated coverage on shares of Grosvenor Capital Management in a report on Tuesday, December 14th. They issued a “neutral” rating and a $11.00 target price for the company. Zacks Investment Research raised shares of Grosvenor Capital Management from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, February 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $12.25.

GCMG stock opened at $9.13 on Wednesday. The firm has a market cap of $1.72 billion, a P/E ratio of 36.52 and a beta of 0.04. Grosvenor Capital Management has a 52-week low of $8.44 and a 52-week high of $13.55. The company’s 50-day moving average is $9.91.

Grosvenor Capital Management (NASDAQ:GCMG – Get Rating) last announced its earnings results on Tuesday, February 15th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Grosvenor Capital Management had a negative return on equity of 187.86% and a net margin of 4.04%. The company had revenue of $190.60 million for the quarter, compared to analysts’ expectations of $156.83 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, research analysts anticipate that Grosvenor Capital Management will post 0.74 earnings per share for the current year.

Several hedge funds have recently modified their holdings of GCMG. Dearborn Partners LLC bought a new stake in shares of Grosvenor Capital Management in the third quarter valued at approximately $172,000. Citigroup Inc. grew its stake in Grosvenor Capital Management by 219.2% in the 3rd quarter. Citigroup Inc. now owns 4,967 shares of the company’s stock valued at $57,000 after buying an additional 3,411 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Grosvenor Capital Management by 20.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,859,247 shares of the company’s stock valued at $21,419,000 after acquiring an additional 318,577 shares during the period. Balyasny Asset Management LLC lifted its position in shares of Grosvenor Capital Management by 59.2% during the third quarter. Balyasny Asset Management LLC now owns 821,993 shares of the company’s stock worth $9,469,000 after acquiring an additional 305,593 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Grosvenor Capital Management by 6.9% in the third quarter. Point72 Asset Management L.P. now owns 579,400 shares of the company’s stock worth $6,675,000 after acquiring an additional 37,300 shares during the period. Institutional investors own 22.20% of the company’s stock.

About Grosvenor Capital Management (Get Rating)

Grosvenor Capital Management, L.P. 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.

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