Kathleen Patricia Sullivan Sells 15,037 Shares of GCM Grosvenor (NASDAQ:GCMG) Stock

GCM Grosvenor Inc. (NASDAQ:GCMG) insider Kathleen Sullivan sold 15,037 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total value of $197,886.92. Following the completion of the sale, the insider owned 44,795 shares of the company’s stock, valued at $589,502.20. This trade represents a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kathleen Patricia Sullivan also recently made the following trade(s):

• On Wednesday, September 2nd, Kathleen Sullivan sold 24,963 shares of GCM Grosvenor stock. The stock was sold at an average price of $13.15, for a total value of $328,263.45.

GCM Grosvenor Price Performance

NASDAQ GCMG opened at $13.27 on Friday. The business’s fifty day moving average is $13.24 and its 200 day moving average is $11.71. GCM Grosvenor Inc. has a fifty-two week low of $9.30 and a fifty-two week high of $14.87. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $2.69 billion, a PE ratio of 25.52 and a beta of 0.83.

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

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st. GCM Grosvenor’s dividend payout ratio is currently 92.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings raised shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of GCM Grosvenor from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Piper Sandler lifted their target price on shares of GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, GCM Grosvenor presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new stake in GCM Grosvenor during the 2nd quarter valued at approximately $444,000. California State Teachers Retirement System lifted its holdings in shares of GCM Grosvenor by 198.2% in the second quarter. California State Teachers Retirement System now owns 10,025 shares of the company’s stock worth $123,000 after buying an additional 6,663 shares in the last quarter. Dearborn Partners LLC purchased a new position in shares of GCM Grosvenor in the second quarter worth $211,000. Globeflex Capital L P bought a new position in shares of GCM Grosvenor during the second quarter worth $1,390,000. Finally, Bank of New York Mellon Corp bought a new position in shares of GCM Grosvenor during the second quarter worth $4,226,000. 99.95% of the stock is currently owned by institutional investors.

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.