GCM Grosvenor (NASDAQ:GCMG) Reaches New 1-Year High – Should You Buy?

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.10 and last traded at $12.10, with a volume of 538 shares changing hands. The stock had previously closed at $11.73.

Analysts Set New Price Targets

Several equities analysts have commented on GCMG shares. Oppenheimer boosted their price target on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, UBS Group upped their price target on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, GCM Grosvenor presently has an average rating of “Hold” and an average price target of $13.10.

GCM Grosvenor Trading Up 2.0 %

The stock has a market capitalization of $2.26 billion, a PE ratio of -234.60 and a beta of 0.54. The firm has a 50 day moving average of $11.26 and a two-hundred day moving average of $10.51.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $116.95 million during the quarter, compared to analysts’ expectations of $117.12 million. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. Equities research analysts forecast that GCM Grosvenor Inc. will post 0.49 EPS for the current year.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

A number of institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of GCM Grosvenor during the 1st quarter worth about $873,000. Russell Investments Group Ltd. increased its position in shares of GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after acquiring an additional 130,547 shares in the last quarter. Blair William & Co. IL raised its stake in shares of GCM Grosvenor by 35.6% in the 1st quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock valued at $1,589,000 after acquiring an additional 43,207 shares during the period. Vanguard Group Inc. lifted its holdings in shares of GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock valued at $40,085,000 after acquiring an additional 37,852 shares in the last quarter. Finally, Ariel Investments LLC lifted its holdings in shares of GCM Grosvenor by 0.9% during the 1st quarter. Ariel Investments LLC now owns 4,480,080 shares of the company’s stock valued at $43,278,000 after acquiring an additional 37,967 shares in the last quarter. Hedge funds and other 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.