Bank of America Corp DE Has $862,000 Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Bank of America Corp DE boosted its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 42.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,223 shares of the company’s stock after purchasing an additional 20,815 shares during the quarter. Bank of America Corp DE’s holdings in GCM Grosvenor were worth $862,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its holdings in shares of GCM Grosvenor by 1,474.0% during the fourth quarter. Quantbot Technologies LP now owns 9,334 shares of the company’s stock worth $115,000 after buying an additional 8,741 shares during the last quarter. Bleakley Financial Group LLC bought a new position in GCM Grosvenor during the fourth quarter worth $127,000. Truist Financial Corp bought a new stake in GCM Grosvenor in the 4th quarter valued at $157,000. EntryPoint Capital LLC acquired a new stake in GCM Grosvenor in the 4th quarter worth $173,000. Finally, Aquatic Capital Management LLC bought a new position in shares of GCM Grosvenor during the 4th quarter worth about $177,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GCMG shares. Piper Sandler reduced their target price on shares of GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group raised their target price on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer boosted their price target on shares of GCM Grosvenor from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, GCM Grosvenor presently has an average rating of “Hold” and an average target price of $13.60.

GCM Grosvenor Trading Down 0.3%

GCMG stock opened at $12.50 on Monday. GCM Grosvenor Inc. has a 1-year low of $9.25 and a 1-year high of $14.48. The business’s 50 day moving average is $12.53 and its 200-day moving average is $12.85. The firm has a market cap of $2.43 billion, a P/E ratio of 416.67 and a beta of 0.73.

GCM Grosvenor Dividend Announcement

The company also recently announced 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. This represents a $0.44 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, June 6th. GCM Grosvenor’s payout ratio is 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.