GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up to $11.04

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.04, but opened at $11.47. GCM Grosvenor shares last traded at $11.10, with a volume of 2,266 shares traded.

Wall Street Analyst Weigh In

GCMG has been the topic of a number of research reports. Piper Sandler raised their price target on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Monday, May 20th. TD Cowen raised their price objective on GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, UBS Group upped their target price on GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, April 12th.

GCM Grosvenor Stock Performance

The business has a 50 day moving average price of $10.03 and a two-hundred day moving average price of $9.38. The company has a market cap of $2.08 billion, a P/E ratio of -34.50 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). GCM Grosvenor had a net margin of 3.55% and a negative return on equity of 67.14%. The firm had revenue of $108.87 million during the quarter, compared to analysts’ expectations of $114.23 million. As a group, research analysts expect that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.11 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.44 annualized dividend and a yield of 3.99%. GCM Grosvenor’s payout ratio is -137.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GCMG. Quadrature Capital Ltd lifted its stake in shares of GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after buying an additional 1,364 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in GCM Grosvenor by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after purchasing an additional 2,312 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares during the period. LRI Investments LLC bought a new stake in GCM Grosvenor in the 1st quarter worth approximately $95,000. Finally, SG Americas Securities LLC purchased a new stake in GCM Grosvenor during the 4th quarter valued at $109,000. 99.95% of the stock is currently owned by institutional investors.

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.