GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High Following Analyst Upgrade

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $13.00 to $14.00. UBS Group currently has a neutral rating on the stock. GCM Grosvenor traded as high as $14.48 and last traded at $14.31, with a volume of 33048 shares traded. The stock had previously closed at $14.41.

GCMG has been the subject of a number of other research reports. Oppenheimer raised their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.10.

Institutional Investors Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in GCM Grosvenor by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,242 shares of the company’s stock worth $297,000 after purchasing an additional 1,023 shares during the period. Blair William & Co. IL grew its position in GCM Grosvenor by 0.6% during the 4th quarter. Blair William & Co. IL now owns 225,695 shares of the company’s stock worth $2,769,000 after purchasing an additional 1,270 shares during the period. Geode Capital Management LLC grew its position in GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after purchasing an additional 2,607 shares during the period. Charles Schwab Investment Management Inc. grew its position in GCM Grosvenor by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company’s stock worth $1,511,000 after purchasing an additional 2,795 shares during the period. Finally, Mariner LLC grew its position in GCM Grosvenor by 17.2% during the 4th quarter. Mariner LLC now owns 19,781 shares of the company’s stock worth $243,000 after purchasing an additional 2,909 shares during the period. 99.95% of the stock is owned by institutional investors and hedge funds.

GCM Grosvenor Trading Down 0.9 %

The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 474.00 and a beta of 0.56. The firm has a 50-day simple moving average of $13.07 and a two-hundred day simple moving average of $12.01.

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

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 3rd. GCM Grosvenor’s dividend payout ratio (DPR) is presently 1,466.67%.

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.