GCM Grosvenor (NASDAQ:GCMG) Shares Gap Down – Here’s What Happened

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price gapped down prior to trading on Friday . The stock had previously closed at $10.51, but opened at $10.01. GCM Grosvenor shares last traded at $9.9970, with a volume of 4,454 shares traded.

Analysts Set New Price Targets

GCMG has been the subject of several analyst reports. Oppenheimer set a $23.00 price target on shares of GCM Grosvenor and gave the company an “outperform” rating in a report on Tuesday, January 20th. Wall Street Zen upgraded GCM Grosvenor from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings downgraded shares of GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

GCM Grosvenor Stock Performance

The company has a debt-to-equity ratio of 112.30, a quick ratio of 2.76 and a current ratio of 2.76. The business has a 50-day moving average price of $11.34 and a 200 day moving average price of $11.82. The stock has a market capitalization of $1.92 billion, a P/E ratio of 35.32 and a beta of 0.80.

GCM Grosvenor (NASDAQ:GCMG) last released 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. GCM Grosvenor had a negative return on equity of 246.80% and a net margin of 6.23%.The firm had revenue of $134.97 million for the quarter, compared to analysts’ expectations of $126.70 million. As a group, sell-side analysts forecast that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other GCM Grosvenor news, CFO Pamela L. Bentley sold 40,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $11.61, for a total transaction of $464,400.00. Following the completion of the sale, the chief financial officer directly owned 43,309 shares in the company, valued at approximately $502,817.49. The trade was a 48.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 76.40% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently made changes to their positions in GCMG. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of GCM Grosvenor during the 2nd quarter valued at $43,384,000. UBS Group AG grew its holdings in GCM Grosvenor by 438.3% during the 3rd quarter. UBS Group AG now owns 1,833,941 shares of the company’s stock valued at $22,136,000 after buying an additional 1,493,250 shares in the last quarter. Marshall Wace LLP increased its position in GCM Grosvenor by 2,502.0% in the second quarter. Marshall Wace LLP now owns 1,006,541 shares of the company’s stock worth $11,636,000 after purchasing an additional 967,857 shares during the last quarter. Millennium Management LLC increased its holdings in shares of GCM Grosvenor by 231.0% in the 3rd quarter. Millennium Management LLC now owns 1,290,222 shares of the company’s stock worth $15,573,000 after buying an additional 900,458 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in GCM Grosvenor by 200.0% in the third quarter. Qube Research & Technologies Ltd now owns 706,848 shares of the company’s stock worth $8,532,000 after acquiring an additional 471,223 shares in the last quarter. Hedge funds and other institutional investors 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.