GCM Grosvenor (NASDAQ:GCMG) Posts Earnings Results, Beats Expectations By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) announced its quarterly earnings data on Monday. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01, FiscalAI reports. GCM Grosvenor had a net margin of 9.05% and a return on equity of 222.78%. The firm had revenue of $134.34 million for the quarter, compared to analyst estimates of $131.21 million.

GCM Grosvenor Stock Performance

Shares of NASDAQ:GCMG opened at $13.58 on Monday. GCM Grosvenor has a 12-month low of $9.30 and a 12-month high of $14.38. The company has a market capitalization of $2.74 billion, a PE ratio of 30.18 and a beta of 0.84. The business has a 50 day moving average of $12.36 and a two-hundred day moving average of $11.36. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 2.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GCMG shares. Piper Sandler raised their target price on GCM Grosvenor from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. TD Cowen increased their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Oppenheimer cut their price objective on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Weiss Ratings upgraded GCM Grosvenor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.33.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of GCM Grosvenor by 44.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after purchasing an additional 1,417 shares in the last quarter. National Bank of Canada FI boosted its holdings in GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $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 second 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 in the last quarter. Quarry LP acquired a new stake in GCM Grosvenor during the third quarter valued at $71,000. Finally, Legal & General Group Plc grew its position 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 during the period. Institutional investors and hedge funds 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.