GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Up 6.7% in December

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,900,000 shares, an increase of 6.7% from the December 15th total of 5,530,000 shares. Approximately 13.6% of the shares of the company are short sold. Based on an average daily volume of 274,700 shares, the short-interest ratio is currently 21.5 days.

Institutional Trading of GCM Grosvenor

A number of hedge funds have recently made changes to their positions in GCMG. Ariel Investments LLC raised its position in GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after purchasing an additional 66,016 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of GCM Grosvenor by 0.9% during the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after acquiring an additional 29,382 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after acquiring an additional 87,010 shares during the last quarter. Bamco Inc. NY purchased a new stake in shares of GCM Grosvenor in the 3rd quarter valued at $19,810,000. Finally, State Street Corp grew its holdings in shares of GCM Grosvenor by 2.0% during the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after purchasing an additional 20,225 shares during the last quarter. 99.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GCMG. Oppenheimer lifted their target price on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. UBS Group boosted their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price target for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Stock Up 0.1 %

Shares of GCMG stock traded up $0.01 during trading on Friday, hitting $12.99. The company had a trading volume of 343,321 shares, compared to its average volume of 250,308. The stock’s 50-day moving average is $12.32 and its two-hundred day moving average is $11.47. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -216.50 and a beta of 0.56. GCM Grosvenor has a 52 week low of $8.05 and a 52 week high of $13.09.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

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.