GCM Grosvenor (NASDAQ:GCMG) Price Target Lowered to $13.00 at Piper Sandler

GCM Grosvenor (NASDAQ:GCMG) had its price target reduced by Piper Sandler from $14.50 to $13.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also weighed in on GCMG. Oppenheimer reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of GCM Grosvenor in a research note on Wednesday, February 11th. Weiss Ratings lowered 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 one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

GCM Grosvenor Stock Down 1.8%

GCMG opened at $9.50 on Tuesday. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 25.68 and a beta of 0.88. The business has a 50-day moving average of $10.78 and a two-hundred day moving average of $11.27. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $13.22.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.24 by $0.07. The company had revenue of $177.10 million during the quarter, compared to analysts’ expectations of $160.20 million. GCM Grosvenor had a return on equity of 2,505.59% and a net margin of 8.14%. On average, research analysts expect that GCM Grosvenor will post 0.64 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, March 2nd. GCM Grosvenor’s dividend payout ratio is presently 129.73%.

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors have recently made changes to their positions in the business. Cornerstone Investment Partners LLC raised its position in shares of GCM Grosvenor by 2.3% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 39,645 shares of the company’s stock valued at $479,000 after purchasing an additional 876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of GCM Grosvenor by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock valued at $339,000 after acquiring an additional 1,412 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of GCM Grosvenor by 44.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after acquiring an additional 1,417 shares during the last quarter. Taylor Frigon Capital Management LLC increased its holdings in shares of GCM Grosvenor by 1.0% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 154,837 shares of the company’s stock valued at $1,753,000 after acquiring an additional 1,573 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of GCM Grosvenor by 65.5% in the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock valued at $53,000 after acquiring an additional 1,743 shares during the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

About GCM Grosvenor

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.