GCM Grosvenor (NASDAQ:GCMG) Shares Up 1% Following Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG) traded up 1% during trading on Friday after UBS Group raised their price target on the stock from $9.00 to $9.50. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $9.49 and last traded at $9.38. 65,089 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 187,838 shares. The stock had previously closed at $9.29.

Other equities research analysts have also issued research reports about the company. Oppenheimer lowered their price objective on GCM Grosvenor from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Piper Sandler restated a “neutral” rating and issued a $10.00 price objective on shares of GCM Grosvenor in a research report on Wednesday, December 20th. Finally, TD Cowen upgraded GCM Grosvenor from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $9.50 to $10.00 in a research report on Friday, February 16th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in GCM Grosvenor by 65.0% in the 4th quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock valued at $4,934,000 after purchasing an additional 216,964 shares during the last quarter. BlackRock Inc. raised its stake in GCM Grosvenor by 5.0% in the 2nd quarter. BlackRock Inc. now owns 2,889,206 shares of the company’s stock valued at $21,785,000 after purchasing an additional 137,722 shares during the last quarter. Susquehanna International Group LLP acquired a new position in GCM Grosvenor in the 1st quarter valued at $539,000. Barclays PLC raised its stake in GCM Grosvenor by 80.5% in the 2nd quarter. Barclays PLC now owns 151,469 shares of the company’s stock valued at $1,141,000 after purchasing an additional 67,568 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in GCM Grosvenor by 14.4% in the 2nd quarter. Northern Trust Corp now owns 504,651 shares of the company’s stock valued at $3,805,000 after buying an additional 63,573 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

GCM Grosvenor Trading Up 1.5 %

The company has a fifty day simple moving average of $8.87 and a 200-day simple moving average of $8.57. The company has a market capitalization of $1.77 billion, a PE ratio of -32.52 and a beta of 0.51.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Tuesday, February 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.08). The company had revenue of $116.56 million during the quarter, compared to analysts’ expectations of $127.29 million. GCM Grosvenor had a net margin of 2.87% and a negative return on equity of 76.61%. On average, equities analysts predict that GCM Grosvenor Inc. will post 0.54 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend was Thursday, February 29th. GCM Grosvenor’s payout ratio is currently -151.72%.

GCM Grosvenor Company 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.