MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 1,023 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,242 shares of the company’s stock after buying an additional 1,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in GCM Grosvenor were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GCMG. Allspring Global Investments Holdings LLC boosted its holdings in GCM Grosvenor by 86,424.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock worth $733,000 after acquiring an additional 59,633 shares in the last quarter. Rhumbline Advisers boosted its holdings in GCM Grosvenor by 5.6% in the fourth quarter. Rhumbline Advisers now owns 58,462 shares of the company’s stock worth $717,000 after acquiring an additional 3,111 shares in the last quarter. SG Americas Securities LLC boosted its holdings in GCM Grosvenor by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock worth $248,000 after acquiring an additional 3,379 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in GCM Grosvenor in the fourth quarter worth approximately $536,000. Finally, Franklin Resources Inc. bought a new position in GCM Grosvenor in the fourth quarter worth approximately $555,000. Institutional investors own 99.95% of the company’s stock.

Wall Street Analyst Weigh In

GCMG has been the topic of several recent research reports. Piper Sandler cut their price target on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Oppenheimer raised their target price on GCM Grosvenor from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Finally, UBS Group raised their target price on GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, GCM Grosvenor has an average rating of “Hold” and an average target price of $13.60.

GCM Grosvenor Stock Down 0.6%

GCM Grosvenor stock opened at $12.74 on Friday. GCM Grosvenor Inc. has a 52 week low of $9.25 and a 52 week high of $14.48. The business has a 50-day simple moving average of $12.61 and a 200 day simple moving average of $12.83. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 424.67 and a beta of 0.74.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.44 annualized dividend and a dividend yield of 3.45%. GCM Grosvenor’s dividend payout ratio is currently 314.29%.

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.