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

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.71 and last traded at $13.47, with a volume of 2373 shares traded. The stock had previously closed at $13.42.

Analysts Set New Price Targets

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

GCM Grosvenor Price Performance

The business has a fifty day moving average of $12.65 and a 200 day moving average of $11.73. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -227.33 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. The firm had revenue of $122.93 million during the quarter, compared to analysts’ expectations of $126.39 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, equities research analysts expect that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.23%. GCM Grosvenor’s dividend payout ratio is currently -733.33%.

Institutional Trading of GCM Grosvenor

Large investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in GCM Grosvenor by 56.9% in the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after acquiring an additional 41,259 shares during the period. Millennium Management LLC grew its position in GCM Grosvenor by 169.7% during the second 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 period. JPMorgan Chase & Co. increased its holdings in GCM Grosvenor by 232.0% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in GCM Grosvenor by 3.6% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in GCM Grosvenor by 2.6% during the third 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 last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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.