GCM Grosvenor (NASDAQ:GCMG) Hits New 1-Year High on Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price hit a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $13.00 to $15.00. Piper Sandler currently has an overweight rating on the stock. GCM Grosvenor traded as high as $13.95 and last traded at $13.7460, with a volume of 308408 shares. The stock had previously closed at $13.68.

GCMG has been the subject of several other research reports. Wall Street Zen cut GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer boosted their target price on shares of GCM Grosvenor from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GCM Grosvenor in a research note on Wednesday. Finally, TD Cowen increased their price objective on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, GCM Grosvenor has a consensus rating of “Moderate Buy” and an average price target of $15.67.

Hedge Funds Weigh In On GCM Grosvenor

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of GCM Grosvenor by 8.8% during the 1st quarter. Bank of America Corp DE now owns 94,185 shares of the company’s stock valued at $923,000 after buying an additional 7,607 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in GCM Grosvenor by 18.8% in the first quarter. The Manufacturers Life Insurance Company now owns 280,406 shares of the company’s stock worth $2,748,000 after acquiring an additional 44,316 shares in the last quarter. Quantinno Capital Management LP increased its stake in GCM Grosvenor by 61.1% during the first quarter. Quantinno Capital Management LP now owns 60,553 shares of the company’s stock worth $593,000 after acquiring an additional 22,966 shares during the last quarter. North Reef Capital Management LP raised its position in GCM Grosvenor by 4.8% during the first quarter. North Reef Capital Management LP now owns 630,179 shares of the company’s stock valued at $6,176,000 after purchasing an additional 28,824 shares during the period. Finally, Entropy Technologies LP purchased a new stake in GCM Grosvenor during the first quarter valued at approximately $127,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Price Performance

The firm has a market capitalization of $2.78 billion, a P/E ratio of 30.56 and a beta of 0.83. The firm has a 50 day moving average price of $11.55 and a 200-day moving average price of $11.17. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 2.97.

GCM Grosvenor (NASDAQ:GCMG) last released its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $124.78 million for the quarter, compared to the consensus estimate of $130.13 million. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%. On average, analysts expect that GCM Grosvenor Inc. will post 0.66 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.12 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.5%. GCM Grosvenor’s dividend payout ratio is presently 106.67%.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi?strategy hedge fund products. Through its multi?manager platforms and direct co?investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.