Wasatch Advisors LP Sells 38,425 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Wasatch Advisors LP lessened its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,148,562 shares of the company’s stock after selling 38,425 shares during the quarter. Wasatch Advisors LP owned approximately 1.66% of GCM Grosvenor worth $38,633,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Granite Investment Partners LLC bought a new stake in GCM Grosvenor in the fourth quarter worth approximately $2,200,000. American Century Companies Inc. bought a new position in GCM Grosvenor during the fourth quarter worth $1,437,000. Arrowstreet Capital Limited Partnership grew its holdings in GCM Grosvenor by 40.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 404,562 shares of the company’s stock worth $4,964,000 after purchasing an additional 115,546 shares during the period. JPMorgan Chase & Co. increased its stake in GCM Grosvenor by 87.1% in the fourth quarter. JPMorgan Chase & Co. now owns 188,925 shares of the company’s stock valued at $2,318,000 after purchasing an additional 87,945 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of GCM Grosvenor during the fourth quarter valued at about $1,002,000. Institutional investors own 99.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GCMG. Piper Sandler decreased their target price on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. UBS Group upped their target price on GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, GCM Grosvenor has an average rating of “Hold” and a consensus price target of $14.20.

GCM Grosvenor Stock Down 1.9 %

Shares of GCM Grosvenor stock opened at $12.37 on Thursday. The company has a market cap of $2.34 billion, a PE ratio of 412.33 and a beta of 0.65. GCM Grosvenor Inc. has a 52 week low of $9.18 and a 52 week high of $14.48. The business has a 50 day moving average price of $13.26 and a 200-day moving average price of $12.60.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.64% and a negative return on equity of 101.23%. As a group, research analysts anticipate that GCM Grosvenor Inc. will post 0.64 EPS for the current year.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.11 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.44 annualized dividend and a yield of 3.56%. GCM Grosvenor’s dividend payout ratio (DPR) is 1,466.67%.

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.