ProShare Advisors LLC Takes $147,000 Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

ProShare Advisors LLC bought a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,998 shares of the company’s stock, valued at approximately $147,000.

Several other hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. raised its stake in GCM Grosvenor by 9.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,892,934 shares of the company’s stock valued at $72,306,000 after acquiring an additional 519,226 shares during the last quarter. Bamco Inc. NY lifted its stake in shares of GCM Grosvenor by 25.7% in the 4th quarter. Bamco Inc. NY now owns 2,200,000 shares of the company’s stock worth $26,994,000 after acquiring an additional 450,000 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of GCM Grosvenor by 2,277.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 402,094 shares of the company’s stock valued at $4,934,000 after acquiring an additional 385,182 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of GCM Grosvenor during the fourth quarter worth about $2,200,000. Finally, American Century Companies Inc. acquired a new position in shares of GCM Grosvenor during the fourth quarter worth about $1,437,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Trading Down 1.0%

GCMG stock opened at $12.49 on Tuesday. The company’s 50-day moving average price is $12.59 and its 200 day moving average price is $12.84. GCM Grosvenor Inc. has a 52 week low of $9.25 and a 52 week high of $14.48. The company has a market cap of $2.43 billion, a P/E ratio of 416.33 and a beta of 0.74.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, June 6th. GCM Grosvenor’s payout ratio is currently 314.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Oppenheimer raised their price target 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 upped their price objective on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, GCM Grosvenor presently has a consensus rating of “Hold” and an average target price of $13.60.

GCM Grosvenor Company Profile

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.