GCM Grosvenor Inc. $GCMG Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 50.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,940 shares of the company’s stock after selling 131,547 shares during the quarter. Granite Investment Partners LLC owned approximately 0.07% of GCM Grosvenor worth $1,568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GCMG. CWM LLC lifted its holdings in shares of GCM Grosvenor by 83.6% during the third quarter. CWM LLC now owns 4,199 shares of the company’s stock valued at $51,000 after purchasing an additional 1,912 shares during the last quarter. Tower Research Capital LLC TRC raised 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 worth $67,000 after buying an additional 4,362 shares during the period. Legal & General Group Plc lifted its stake in GCM Grosvenor by 96.8% during the second quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock valued at $100,000 after buying an additional 4,249 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of GCM Grosvenor in the second quarter worth about $173,000. Finally, MQS Management LLC purchased a new position in shares of GCM Grosvenor in the second quarter worth approximately $186,000. 99.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GCM Grosvenor news, CFO Pamela L. Bentley sold 40,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $11.61, for a total value of $464,400.00. Following the transaction, the chief financial officer directly owned 43,309 shares of the company’s stock, valued at $502,817.49. This represents a 48.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 77.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GCMG. Oppenheimer restated an “outperform” rating and issued a $24.00 price target on shares of GCM Grosvenor in a research report on Wednesday, February 11th. Weiss Ratings downgraded shares of GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Wall Street Zen upgraded GCM Grosvenor from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.00.

GCM Grosvenor Stock Performance

Shares of GCMG opened at $11.47 on Tuesday. The company has a market capitalization of $2.23 billion, a PE ratio of 31.00 and a beta of 0.80. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.72 and a current ratio of 1.72. The company’s 50 day moving average price is $11.41 and its 200 day moving average price is $11.78. GCM Grosvenor Inc. has a 52 week low of $9.86 and a 52 week high of $14.30.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Tuesday, February 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. GCM Grosvenor had a net margin of 8.14% and a return on equity of 2,505.59%. The company had revenue of $177.10 million during the quarter, compared to analyst estimates of $160.20 million. Research analysts expect that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.12 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. GCM Grosvenor’s payout ratio is 129.73%.

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.