GCM Grosvenor (NASDAQ:GCMG) Stock Price Up 3.8% – Here’s Why

GCM Grosvenor Inc. (NASDAQ:GCMG) traded up 3.8% during trading on Tuesday . The stock traded as high as $11.92 and last traded at $11.92. 55,037 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 179,147 shares. The stock had previously closed at $11.48.

Analysts Set New Price Targets

Several analysts have issued reports on GCMG shares. UBS Group upped their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler upped their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer boosted their target price on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the company from $13.50 to $12.50 in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, GCM Grosvenor presently has a consensus rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Trading Down 0.1 %

The firm’s 50 day simple moving average is $11.40 and its two-hundred day simple moving average is $10.62. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -193.67 and a beta of 0.54.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.79%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Insider Activity

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was 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 owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd lifted its stake in GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after purchasing an additional 1,364 shares during the last quarter. Rhumbline Advisers grew its position in GCM Grosvenor by 2.4% in the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after acquiring an additional 1,402 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after acquiring an additional 2,341 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after acquiring an additional 3,047 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its stake in shares of GCM Grosvenor by 3.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after purchasing an additional 3,617 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

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.