Short Interest in GCM Grosvenor Inc. (NASDAQ:GCMG) Grows By 6.7%

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,900,000 shares, an increase of 6.7% from the December 31st total of 5,530,000 shares. Approximately 13.6% of the company’s stock are sold short. Based on an average daily volume of 274,700 shares, the days-to-cover ratio is currently 21.5 days.

GCM Grosvenor Trading Down 0.7 %

GCM Grosvenor stock opened at $13.42 on Tuesday. The stock has a 50-day simple moving average of $12.65 and a 200 day simple moving average of $11.73. GCM Grosvenor has a 52 week low of $8.05 and a 52 week high of $13.67.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Friday, November 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. GCM Grosvenor had a negative return on equity of 73.06% and a net margin of 3.08%. The company had revenue of $122.93 million during the quarter, compared to the consensus estimate of $126.39 million. During the same period in the previous year, the company posted $0.14 EPS. On average, sell-side analysts anticipate that GCM Grosvenor will post 0.51 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s payout ratio is presently -733.33%.

Institutional Trading of GCM Grosvenor

A number of hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of GCM Grosvenor in the fourth quarter valued at about $57,000. Copeland Capital Management LLC bought a new stake in GCM Grosvenor in the 3rd quarter valued at about $58,000. Bleakley Financial Group LLC acquired a new position in shares of GCM Grosvenor during the 4th quarter worth approximately $127,000. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor during the second quarter worth approximately $157,000. Finally, Truist Financial Corp acquired a new stake in shares of GCM Grosvenor in the fourth quarter valued at approximately $157,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GCMG shares. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. Oppenheimer upped their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, UBS Group upped their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GCM Grosvenor has a consensus rating of “Hold” and a consensus price target of $13.70.

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.