Jennison Associates LLC Grows Holdings in GCM Grosvenor Inc. $GCMG

Jennison Associates LLC raised its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 49.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 127,482 shares of the company’s stock after purchasing an additional 42,323 shares during the quarter. Jennison Associates LLC’s holdings in GCM Grosvenor were worth $1,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in GCMG. National Bank of Canada FI lifted its holdings in shares of GCM Grosvenor by 65.5% during the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after acquiring an additional 1,743 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in GCM Grosvenor by 44.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after acquiring an additional 1,417 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in GCM Grosvenor by 308.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company’s stock valued at $67,000 after acquiring an additional 4,362 shares during the last quarter. Quarry LP purchased a new stake in GCM Grosvenor during the third quarter valued at about $71,000. Finally, CWM LLC raised its holdings in shares of GCM Grosvenor by 104.8% during the 4th quarter. CWM LLC now owns 8,601 shares of the company’s stock valued at $97,000 after buying an additional 4,402 shares in the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Performance

NASDAQ:GCMG opened at $11.99 on Thursday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 2.97. The firm’s fifty day simple moving average is $11.86 and its 200 day simple moving average is $11.26. The stock has a market cap of $2.42 billion, a P/E ratio of 26.64 and a beta of 0.83. GCM Grosvenor Inc. has a twelve month low of $9.30 and a twelve month high of $14.38.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $124.78 million during the quarter, compared to analyst estimates of $130.13 million. GCM Grosvenor had a net margin of 9.05% and a return on equity of 222.78%. As a group, research analysts predict that GCM Grosvenor Inc. will post 0.66 EPS for the current year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 annualized dividend and a yield of 4.0%. GCM Grosvenor’s dividend payout ratio (DPR) is 106.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GCMG shares. Wall Street Zen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler boosted their price objective on shares of GCM Grosvenor from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. TD Cowen upped their price objective on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer dropped their target price on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of GCM Grosvenor in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.33.

GCM Grosvenor Company Profile

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.