Balyasny Asset Management L.P. Makes New Investment in GCM Grosvenor Inc. (NASDAQ:GCMG)

Balyasny Asset Management L.P. purchased a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,437 shares of the company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GCMG. R Squared Ltd acquired a new position in GCM Grosvenor during the 4th quarter worth approximately $57,000. Quantbot Technologies LP grew its holdings in GCM Grosvenor by 1,474.0% during the 4th quarter. Quantbot Technologies LP now owns 9,334 shares of the company’s stock worth $115,000 after acquiring an additional 8,741 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in GCM Grosvenor during the 4th quarter worth approximately $127,000. Truist Financial Corp acquired a new position in GCM Grosvenor during the 4th quarter worth approximately $157,000. Finally, Longboard Asset Management LP acquired a new position in GCM Grosvenor during the 4th quarter worth approximately $166,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GCMG. Oppenheimer upped their target price on shares of GCM Grosvenor from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Piper Sandler lowered their target price on shares of GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, UBS Group upped their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, GCM Grosvenor currently has a consensus rating of “Hold” and a consensus price target of $13.60.

GCM Grosvenor Price Performance

Shares of NASDAQ:GCMG opened at $12.57 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of 419.00 and a beta of 0.74. The firm has a fifty day moving average price of $12.72 and a 200 day moving average price of $12.77. GCM Grosvenor Inc. has a 1-year low of $9.25 and a 1-year high of $14.48.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Friday, June 6th. GCM Grosvenor’s dividend payout ratio is currently 314.29%.

GCM Grosvenor 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.