Grosvenor Capital Management (NASDAQ:GCMG) Rating Lowered to Hold at Zacks Investment Research

Grosvenor Capital Management (NASDAQ:GCMGGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 decreased their target price on Grosvenor Capital Management from $12.00 to $11.00 in a research note on Wednesday, April 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.25.

NASDAQ:GCMG opened at $9.23 on Tuesday. Grosvenor Capital Management has a 1 year low of $8.44 and a 1 year high of $13.55. The firm has a market capitalization of $1.74 billion, a PE ratio of 36.92 and a beta of 0.04. The firm has a 50-day simple moving average of $9.94.

Grosvenor Capital Management (NASDAQ:GCMGGet Rating) last posted its earnings results on Tuesday, February 15th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $190.60 million during the quarter, compared to analysts’ expectations of $156.83 million. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities analysts predict that Grosvenor Capital Management will post 0.74 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its holdings in Grosvenor Capital Management by 219.2% during the third quarter. Citigroup Inc. now owns 4,967 shares of the company’s stock worth $57,000 after acquiring 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 third quarter. Schonfeld Strategic Advisors LLC now owns 1,859,247 shares of the company’s stock worth $21,419,000 after acquiring an additional 318,577 shares in the last quarter. Balyasny Asset Management LLC raised its holdings in 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. Point72 Asset Management L.P. raised its holdings in Grosvenor Capital Management by 6.9% during 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 in the last quarter. Finally, Atom Investors LP bought a new stake in Grosvenor Capital Management during the third quarter worth about $3,738,000. Institutional investors and hedge funds own 22.20% of the company’s stock.

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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