Oppenheimer Lowers GCM Grosvenor (NASDAQ:GCMG) Price Target to $17.00

GCM Grosvenor (NASDAQ:GCMG) had its price target lowered by equities researchers at Oppenheimer from $18.00 to $17.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 31.78% from the company’s previous close.

Several other analysts also recently issued reports on GCMG. Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of GCM Grosvenor in a report on Wednesday, July 8th. TD Cowen boosted their target price on shares of GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler upped their price target on shares of GCM Grosvenor from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.33.

GCM Grosvenor Stock Down 4.4%

Shares of GCMG stock opened at $12.90 on Friday. The stock’s 50 day simple moving average is $11.78 and its 200 day simple moving average is $11.24. GCM Grosvenor has a twelve month low of $9.30 and a twelve month high of $14.38. The company has a debt-to-equity ratio of 2.97, a quick ratio of 4.05 and a current ratio of 4.05. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 28.67 and a beta of 0.83.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%.The firm had revenue of $124.78 million during the quarter, compared to analysts’ expectations of $130.13 million. As a group, research analysts predict that GCM Grosvenor will post 0.66 EPS for the current year.

Institutional Trading of GCM Grosvenor

Institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in shares of GCM Grosvenor by 44.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after purchasing an additional 1,417 shares in the last quarter. National Bank of Canada FI lifted its position in GCM Grosvenor by 65.5% in the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after purchasing an additional 1,743 shares during the period. Tower Research Capital LLC TRC boosted its stake in 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 buying an additional 4,362 shares in the last quarter. Quarry LP acquired a new stake in GCM Grosvenor during the third quarter worth $71,000. Finally, CWM LLC increased its holdings in GCM Grosvenor by 104.8% in the 4th quarter. CWM LLC now owns 8,601 shares of the company’s stock valued at $97,000 after buying an additional 4,402 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.