GCM Grosvenor Inc. (NASDAQ:GCMG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in GCM Grosvenor Inc. (NASDAQ:GCMG) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,928 shares of the company’s stock after selling 12,962 shares during the period. Bank of New York Mellon Corp’s holdings in GCM Grosvenor were worth $3,926,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GCMG. Quest Partners LLC acquired a new stake in GCM Grosvenor in the third quarter worth approximately $424,000. Massachusetts Financial Services Co. MA lifted its position in GCM Grosvenor by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after purchasing an additional 87,010 shares during the period. Charles Schwab Investment Management Inc. lifted its position in GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares during the period. PDT Partners LLC acquired a new stake in GCM Grosvenor in the third quarter worth approximately $449,000. Finally, Wasatch Advisors LP lifted its position in GCM Grosvenor by 0.9% in the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after purchasing an additional 29,382 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $13.26 on Wednesday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 442.00 and a beta of 0.58. GCM Grosvenor Inc. has a 1 year low of $8.81 and a 1 year high of $14.48. The business’s fifty day moving average is $13.43 and its two-hundred day moving average is $12.34.

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

GCM Grosvenor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, March 3rd. GCM Grosvenor’s dividend payout ratio (DPR) is currently 1,466.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler upgraded GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. UBS Group upped their price target on GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Oppenheimer upped their price target on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, GCM Grosvenor has a consensus rating of “Hold” and an average target price of $14.10.

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.