GCM Grosvenor Inc. (NASDAQ:GCMG) Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 86,424.6% in the fourth quarter, Holdings Channel reports. The firm owned 59,702 shares of the company’s stock after buying an additional 59,633 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GCM Grosvenor were worth $733,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GCMG. Bamco Inc. NY bought a new stake in GCM Grosvenor during the third quarter worth approximately $19,810,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after buying an additional 87,010 shares during the period. JPMorgan Chase & Co. grew its stake in GCM Grosvenor by 232.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock valued at $1,143,000 after buying an additional 70,565 shares during the last quarter. Barclays PLC raised its holdings in GCM Grosvenor by 56.9% in the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after acquiring an additional 41,259 shares during the period. Finally, PDT Partners LLC acquired a new position in GCM Grosvenor during the 3rd quarter worth $449,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Down 0.9 %

Shares of GCMG stock opened at $14.22 on Monday. GCM Grosvenor Inc. has a 12 month low of $8.31 and a 12 month high of $14.48. The company has a market capitalization of $2.69 billion, a P/E ratio of 474.00 and a beta of 0.56. The stock has a 50 day moving average of $13.07 and a two-hundred day moving average of $12.03.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly 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 negative return on equity of 101.23% and a net margin of 3.64%. Sell-side analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.11 dividend. 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 is currently 1,466.67%.

Wall Street Analyst Weigh In

GCMG has been the topic of several research analyst reports. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their price target for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. UBS Group raised their target price on GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Oppenheimer raised their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.10.

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.