GCM Grosvenor’s (GCMG) Hold (C+) Rating Reaffirmed at Weiss Ratings

GCM Grosvenor (NASDAQ:GCMG)‘s stock had its “hold (c+)” rating restated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages also recently issued reports on GCMG. Piper Sandler upped their price objective on GCM Grosvenor from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Oppenheimer restated an “outperform” rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.13.

GCM Grosvenor Stock Down 1.1%

Shares of GCM Grosvenor stock opened at $11.63 on Wednesday. The stock’s 50-day simple moving average is $12.58 and its 200-day simple moving average is $12.39. GCM Grosvenor has a 52 week low of $10.91 and a 52 week high of $14.48. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 77.53 and a beta of 0.75.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor stock in a transaction that occurred 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 completion of the sale, the insider owned 60,195 shares in the company, valued at approximately $783,738.90. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 76.40% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in shares of GCM Grosvenor by 308.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company’s stock worth $67,000 after purchasing an additional 4,362 shares in the last quarter. Legal & General Group Plc grew its stake in shares of GCM Grosvenor by 96.8% during the second quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock worth $100,000 after purchasing an additional 4,249 shares in the last quarter. R Squared Ltd grew its stake in shares of GCM Grosvenor by 161.4% during the first quarter. R Squared Ltd now owns 12,206 shares of the company’s stock worth $161,000 after purchasing an additional 7,536 shares in the last quarter. Argent Trust Co acquired a new position in shares of GCM Grosvenor during the first quarter worth $172,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of GCM Grosvenor during the second quarter worth $173,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.