GCM Grosvenor (NASDAQ:GCMG) Given New $18.00 Price Target at Oppenheimer

GCM Grosvenor (NASDAQ:GCMG) had its target price increased by Oppenheimer from $14.00 to $18.00 in a research note published on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities analysts also recently commented on the stock. Piper Sandler upped their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen lifted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $12.60.

GCM Grosvenor Trading Up 3.6 %

NASDAQ GCMG opened at $11.54 on Wednesday. The firm has a market cap of $2.17 billion, a PE ratio of -36.06 and a beta of 0.54. GCM Grosvenor has a 1-year low of $7.70 and a 1-year high of $11.77. The stock has a 50-day moving average of $11.02 and a 200-day moving average of $10.29.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $116.95 million during the quarter, compared to analyst estimates of $117.12 million. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. As a group, equities research analysts forecast that GCM Grosvenor will post 0.5 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Insider Activity

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in GCM Grosvenor in the 4th quarter worth about $117,000. Wasatch Advisors LP increased its position in shares of GCM Grosvenor by 111.5% during the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock valued at $22,625,000 after acquiring an additional 1,234,505 shares in the last quarter. GSA Capital Partners LLP purchased a new position in GCM Grosvenor in the 1st quarter worth approximately $873,000. Russell Investments Group Ltd. lifted its position in GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after acquiring an additional 130,547 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in GCM Grosvenor by 35.6% during the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock valued at $1,589,000 after purchasing an additional 43,207 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

About GCM Grosvenor

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.