GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High at $9.71

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price hit a new 52-week high on Friday . The company traded as high as $9.71 and last traded at $9.63, with a volume of 4622 shares changing hands. The stock had previously closed at $9.62.

Analyst Ratings Changes

A number of research firms have commented on GCMG. TD Cowen raised shares of GCM Grosvenor from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $9.50 to $10.00 in a research report on Friday, February 16th. UBS Group upped their price objective on GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Oppenheimer reduced their price target on shares of GCM Grosvenor from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th.

GCM Grosvenor Stock Up 0.6 %

The stock’s 50 day moving average price is $9.11 and its 200-day moving average price is $8.74. The stock has a market capitalization of $1.81 billion, a PE ratio of -33.38 and a beta of 0.51.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.08). The business had revenue of $116.56 million for the quarter, compared to the consensus estimate of $127.29 million. GCM Grosvenor had a net margin of 2.87% and a negative return on equity of 76.61%. On average, analysts forecast that GCM Grosvenor Inc. will post 0.54 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Thursday, February 29th. GCM Grosvenor’s payout ratio is -151.72%.

Institutional Trading of GCM Grosvenor

Large investors have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its holdings in shares of GCM Grosvenor by 30.3% in the 4th quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after purchasing an additional 2,312 shares during the period. SG Americas Securities LLC bought a new stake in GCM Grosvenor in the fourth quarter worth $109,000. Quadrature Capital Ltd purchased a new position in GCM Grosvenor during the fourth quarter worth $117,000. GSA Capital Partners LLP bought a new position in GCM Grosvenor during the first quarter valued at $873,000. Finally, Russell Investments Group Ltd. raised its stake in shares of GCM Grosvenor by 65.0% in the fourth quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock valued at $4,934,000 after acquiring an additional 216,964 shares during the period. 99.95% of the stock is currently owned by institutional investors.

About GCM Grosvenor

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.