GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High – Here’s What Happened

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.44 and last traded at $13.97, with a volume of 97989 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

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

GCM Grosvenor Price Performance

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -232.92 and a beta of 0.56. The business’s 50-day simple moving average is $12.74 and its 200-day simple moving average is $11.81.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 73.06% and a net margin of 3.08%. As a group, sell-side analysts forecast that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

Institutional Trading of GCM Grosvenor

Several hedge funds and other institutional investors have recently bought and sold shares of GCMG. Barclays PLC boosted its holdings in shares of GCM Grosvenor by 56.9% during the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after purchasing an additional 41,259 shares during the last quarter. Millennium Management LLC boosted its stake in GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 period. Massachusetts Financial Services Co. MA increased its stake 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 valued at $28,141,000 after acquiring an additional 87,010 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of GCM Grosvenor by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after acquiring an additional 3,047 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.