GCM Grosvenor (NASDAQ:GCMG) Shares Gap Down on Insider Selling

GCM Grosvenor Inc. (NASDAQ:GCMG) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $13.00, but opened at $12.32. GCM Grosvenor shares last traded at $12.93, with a volume of 22,257 shares.

Specifically, insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total value of $78,120.00. Following the transaction, the insider directly owned 60,195 shares of the company’s stock, valued at $783,738.90. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Analysts Set New Price Targets

Several equities analysts recently commented on GCMG shares. Piper Sandler boosted their price target on GCM Grosvenor from $14.50 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Oppenheimer reissued an “outperform” rating on shares of GCM Grosvenor in a research report on Friday, August 8th.

GCM Grosvenor Trading Down 0.1%

The firm has a 50-day moving average of $11.93 and a 200 day moving average of $12.64. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 86.60 and a beta of 0.72.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 2nd. GCM Grosvenor’s payout ratio is 293.33%.

Institutional Trading of GCM Grosvenor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of GCM Grosvenor by 96.8% in the second quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock worth $100,000 after buying an additional 4,249 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of GCM Grosvenor during the 4th quarter valued at approximately $147,000. R Squared Ltd raised its position in shares of GCM Grosvenor by 161.4% during the 1st quarter. R Squared Ltd now owns 12,206 shares of the company’s stock valued at $161,000 after acquiring an additional 7,536 shares in the last quarter. Argent Trust Co acquired a new stake in shares of GCM Grosvenor during the 1st quarter valued at approximately $172,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of GCM Grosvenor during the 2nd quarter valued at approximately $173,000. Institutional investors own 99.95% of the company’s stock.

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.