Grosvenor Capital Management (NASDAQ:GCMG) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Grosvenor Capital Management (NASDAQ:GCMGGet Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “GCM Grosvenor is an alternative asset management solutions provider with assets under management across private equity, infrastructure, real estate, credit and absolute return investment strategies. It operates principally in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul. GCM Grosvenor, formerly known as CF Finance Acquisition Corp., is headquartered in Chicago. “

Separately, Oppenheimer dropped their target price on Grosvenor Capital Management from $12.00 to $11.00 in a research report on Wednesday, April 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Grosvenor Capital Management presently has a consensus rating of Buy and an average price target of $12.25.

GCMG stock opened at $9.23 on Tuesday. The company has a market capitalization of $1.74 billion, a P/E ratio of 36.92 and a beta of 0.04. Grosvenor Capital Management has a twelve month low of $8.44 and a twelve month high of $13.55. The business’s fifty day moving average price is $9.94.

Grosvenor Capital Management (NASDAQ:GCMGGet Rating) last released its earnings results on Tuesday, February 15th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $190.60 million during the quarter, compared to the consensus estimate of $156.83 million. Grosvenor Capital Management had a negative return on equity of 187.86% and a net margin of 4.04%. During the same quarter in the previous year, the company posted $0.09 earnings per share. As a group, sell-side analysts expect that Grosvenor Capital Management will post 0.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.33%. Grosvenor Capital Management’s dividend payout ratio (DPR) is presently 160.01%.

Several institutional investors have recently made changes to their positions in GCMG. Natixis grew its stake in shares of Grosvenor Capital Management by 41.7% during the third quarter. Natixis now owns 1,700,000 shares of the company’s stock worth $19,584,000 after purchasing an additional 500,000 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Grosvenor Capital Management by 24.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 2,322,839 shares of the company’s stock worth $24,389,000 after purchasing an additional 463,592 shares during the period. BlackRock Inc. grew its stake in Grosvenor Capital Management by 19.5% in the third quarter. BlackRock Inc. now owns 2,515,279 shares of the company’s stock valued at $28,976,000 after acquiring an additional 411,096 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Grosvenor Capital Management in the fourth quarter valued at about $3,504,000. Finally, Atom Investors LP acquired a new position in Grosvenor Capital Management in the third quarter valued at about $3,738,000. 22.20% of the stock is owned by institutional investors and hedge funds.

Grosvenor Capital Management Company Profile (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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