GCM Grosvenor (NASDAQ:GCMG) Sees Large Volume Increase – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares saw unusually-high trading volume on Thursday . Approximately 454,878 shares changed hands during mid-day trading, an increase of 146% from the previous session’s volume of 184,867 shares.The stock last traded at $12.37 and had previously closed at $12.43.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GCMG shares. JPMorgan Chase & Co. lowered their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Piper Sandler boosted their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer raised their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group upped their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Trading Up 0.7 %

The stock’s 50 day moving average price is $11.58 and its 200 day moving average price is $10.73. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -205.50 and a beta of 0.54.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. This represents a 9.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCMG. Copeland Capital Management LLC acquired a new position in GCM Grosvenor during the 3rd quarter worth approximately $58,000. LRI Investments LLC bought a new stake in GCM Grosvenor during the 1st quarter worth $95,000. Price T Rowe Associates Inc. MD increased its holdings in GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Quadrature Capital Ltd raised its position in GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock valued at $139,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of GCM Grosvenor during the second quarter valued at about $157,000. 99.95% of the stock is currently owned by 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.