Goldman Sachs Group Inc. Reduces Stock Position in GCM Grosvenor Inc. $GCMG

Goldman Sachs Group Inc. lowered its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,642 shares of the company’s stock after selling 35,317 shares during the period. Goldman Sachs Group Inc. owned about 0.17% of GCM Grosvenor worth $4,427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GCMG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in GCM Grosvenor by 4.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,242 shares of the company’s stock worth $297,000 after purchasing an additional 1,023 shares in the last quarter. EntryPoint Capital LLC raised its holdings in GCM Grosvenor by 10.2% in the 1st quarter. EntryPoint Capital LLC now owns 15,549 shares of the company’s stock worth $206,000 after purchasing an additional 1,438 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in GCM Grosvenor by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 125,388 shares of the company’s stock worth $1,659,000 after purchasing an additional 2,276 shares in the last quarter. Invesco Ltd. raised its holdings in GCM Grosvenor by 4.2% in the 1st quarter. Invesco Ltd. now owns 63,835 shares of the company’s stock worth $845,000 after purchasing an additional 2,573 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in GCM Grosvenor by 5.0% in the 1st quarter. Rhumbline Advisers now owns 61,392 shares of the company’s stock worth $812,000 after purchasing an additional 2,930 shares in the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total value of $78,120.00. Following the transaction, the insider owned 60,195 shares of the company’s stock, valued at approximately $783,738.90. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 76.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler upped their price objective on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Oppenheimer reiterated an “outperform” rating on shares of GCM Grosvenor in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.13.

GCM Grosvenor Trading Down 0.5%

GCMG opened at $12.88 on Thursday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 85.87 and a beta of 0.75. The company’s 50 day moving average is $12.47 and its 200 day moving average is $12.48. GCM Grosvenor Inc. has a 12-month low of $10.74 and a 12-month high of $14.48.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.44 annualized dividend and a yield of 3.4%. GCM Grosvenor’s payout ratio is currently 293.33%.

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.