Geode Capital Management LLC Increases Stake in GCM Grosvenor Inc. $GCMG

Geode Capital Management LLC increased its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,092,278 shares of the company’s stock after acquiring an additional 48,693 shares during the period. Geode Capital Management LLC owned approximately 0.56% of GCM Grosvenor worth $12,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GCMG. Argent Trust Co acquired a new position in shares of GCM Grosvenor in the 1st quarter valued at $172,000. MQS Management LLC purchased a new position in shares of GCM Grosvenor in the 2nd quarter worth $186,000. EntryPoint Capital LLC boosted its holdings in GCM Grosvenor by 10.2% in the first quarter. EntryPoint Capital LLC now owns 15,549 shares of the company’s stock valued at $206,000 after acquiring an additional 1,438 shares during the last quarter. Contravisory Investment Management Inc. purchased a new stake in GCM Grosvenor during the second quarter valued at about $208,000. Finally, Corton Capital Inc. increased its stake in GCM Grosvenor by 48.1% during the second quarter. Corton Capital Inc. now owns 23,933 shares of the company’s stock worth $277,000 after acquiring an additional 7,774 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GCMG. Piper Sandler decreased their target price on GCM Grosvenor from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Wall Street Zen raised shares of GCM Grosvenor from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Oppenheimer reissued an “outperform” rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of GCM Grosvenor in a report on Monday. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.67.

GCM Grosvenor Stock Up 0.1%

Shares of NASDAQ:GCMG opened at $10.82 on Wednesday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 112.30. GCM Grosvenor Inc. has a 52-week low of $10.23 and a 52-week high of $14.48. The company has a 50 day moving average of $11.51 and a two-hundred day moving average of $12.04. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 38.64 and a beta of 0.90.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $134.97 million for the quarter, compared to analysts’ expectations of $126.70 million. GCM Grosvenor had a net margin of 6.23% and a negative return on equity of 246.80%. As a group, analysts forecast that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.12 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.48 dividend on an annualized basis and a yield of 4.4%. GCM Grosvenor’s payout ratio is currently 171.43%.

GCM Grosvenor 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.