Grosvenor Capital Management, L.P. (NASDAQ:GCMG) Declares Quarterly Dividend of $0.10

Grosvenor Capital Management, L.P. (NASDAQ:GCMG – Get Rating) announced a quarterly dividend on Wednesday, May 11th, Wall Street Journal reports. Investors of record on Wednesday, June 1st will be given a dividend of 0.10 per share on Wednesday, June 15th. This represents a $0.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Tuesday, May 31st.

GCMG opened at $8.13 on Thursday. The stock has a market capitalization of $1.53 billion, a PE ratio of 32.52 and a beta of 0.19. Grosvenor Capital Management has a 1 year low of $8.05 and a 1 year high of $12.92. The company’s 50 day simple moving average is $9.48 and its 200 day simple moving average is $10.09.

Grosvenor Capital Management (NASDAQ:GCMG – Get Rating) last announced its quarterly earnings results on Tuesday, February 15th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $190.60 million for the quarter, compared to analysts’ expectations of $156.83 million. Grosvenor Capital Management had a net margin of 4.04% and a negative return on equity of 187.86%. During the same period in the previous year, the company posted $0.09 earnings per share. On average, research analysts expect that Grosvenor Capital Management will post 0.71 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of GCMG. Marshall Wace LLP raised its stake in shares of Grosvenor Capital Management by 111.7% during the fourth quarter. Marshall Wace LLP now owns 515,037 shares of the company’s stock valued at $5,407,000 after purchasing an additional 271,769 shares during the period. Millennium Management LLC raised its stake in shares of Grosvenor Capital Management by 298.0% during the fourth quarter. Millennium Management LLC now owns 276,999 shares of the company’s stock valued at $2,908,000 after purchasing an additional 207,409 shares during the period. BlackRock Inc. raised its stake in shares of Grosvenor Capital Management by 6.0% during the fourth quarter. BlackRock Inc. now owns 2,666,750 shares of the company’s stock valued at $28,001,000 after purchasing an additional 151,471 shares during the period. Renaissance Technologies LLC raised its stake in shares of Grosvenor Capital Management by 139.8% during the fourth quarter. Renaissance Technologies LLC now owns 251,781 shares of the company’s stock valued at $2,644,000 after purchasing an additional 146,781 shares during the period. Finally, Morgan Stanley bought a new stake in shares of Grosvenor Capital Management in the second quarter worth $1,475,000. Institutional investors own 21.55% of the company’s stock.

A number of brokerages have weighed in on GCMG. William Blair reaffirmed an “outperform” rating on shares of Grosvenor Capital Management in a research report on Tuesday. Oppenheimer reduced their price target on shares of Grosvenor Capital Management from $12.00 to $11.00 in a research report on Wednesday, April 13th. Finally, Zacks Investment Research lowered shares of Grosvenor Capital Management from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th.

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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