Wall Street Zen Upgrades GCM Grosvenor (NASDAQ:GCMG) to “Buy”

GCM Grosvenor (NASDAQ:GCMG) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on GCMG. Piper Sandler upped their target price on GCM Grosvenor from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Oppenheimer lowered their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, July 17th. TD Cowen upped their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their price objective on GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.00.

GCM Grosvenor Price Performance

GCMG stock opened at $13.72 on Friday. The company’s 50-day moving average price is $13.13 and its two-hundred day moving average price is $11.65. The firm has a market cap of $2.78 billion, a P/E ratio of 26.39 and a beta of 0.84. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.96. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $14.87.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $134.34 million during the quarter, compared to the consensus estimate of $131.21 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. On average, analysts anticipate that GCM Grosvenor will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of GCM Grosvenor

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of GCM Grosvenor by 942.2% during the first quarter. Royal Bank of Canada now owns 79,085 shares of the company’s stock worth $1,046,000 after buying an additional 71,497 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of GCM Grosvenor by 81.6% during the 1st quarter. AQR Capital Management LLC now owns 29,403 shares of the company’s stock valued at $389,000 after acquiring an additional 13,214 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in GCM Grosvenor by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after acquiring an additional 1,412 shares during the last quarter. Millennium Management LLC grew its position in GCM Grosvenor by 88.9% during the 1st quarter. Millennium Management LLC now owns 577,977 shares of the company’s stock worth $7,647,000 after acquiring an additional 271,989 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in GCM Grosvenor by 200.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 285,477 shares of the company’s stock worth $3,300,000 after purchasing an additional 190,486 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.