GCM Grosvenor (NASDAQ:GCMG) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

GCM Grosvenor (NASDAQ:GCMG) released its earnings results on Tuesday. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07, FiscalAI reports. The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $160.20 million. GCM Grosvenor had a net margin of 6.23% and a negative return on equity of 246.80%.

GCM Grosvenor Trading Up 0.1%

NASDAQ GCMG opened at $9.90 on Tuesday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 112.30. The firm has a market cap of $1.92 billion, a PE ratio of 35.36 and a beta of 0.80. GCM Grosvenor has a 52 week low of $9.86 and a 52 week high of $14.48. The company has a 50 day moving average price of $11.32 and a 200 day moving average price of $11.80.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GCMG shares. Oppenheimer set a $23.00 target price on shares of GCM Grosvenor and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Wall Street Zen raised GCM Grosvenor from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings cut shares of GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Insider Buying and Selling at GCM Grosvenor

In related news, CFO Pamela L. Bentley sold 40,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $11.61, for a total value of $464,400.00. Following the completion of the transaction, the chief financial officer owned 43,309 shares in the company, valued at $502,817.49. This trade represents a 48.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its stake in GCM Grosvenor by 65.5% in the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock valued at $53,000 after buying an additional 1,743 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in GCM Grosvenor by 308.5% during the 2nd 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 period. Quarry LP acquired a new stake in shares of GCM Grosvenor in the third quarter valued at $71,000. Legal & General Group Plc raised its holdings in GCM Grosvenor by 96.8% in the second quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock valued at $100,000 after acquiring an additional 4,249 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of GCM Grosvenor in the 3rd quarter valued at about $123,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.