GCM Grosvenor (NASDAQ:GCMG) Hits New 12-Month High – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMGGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.90 and last traded at $12.86, with a volume of 384938 shares. The stock had previously closed at $12.72.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. UBS Group boosted their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, Oppenheimer boosted their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.70.

Read Our Latest Analysis on GCM Grosvenor

GCM Grosvenor Stock Performance

The company has a 50 day simple moving average of $12.17 and a two-hundred day simple moving average of $11.31. The firm has a market cap of $2.43 billion, a PE ratio of -214.33 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

Institutional Trading of GCM Grosvenor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Copeland Capital Management LLC acquired a new stake in GCM Grosvenor during the 3rd quarter worth about $58,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of GCM Grosvenor in the 2nd quarter valued at $157,000. SG Americas Securities LLC acquired a new position in shares of GCM Grosvenor in the 3rd quarter valued at $191,000. Quest Partners LLC acquired a new stake in GCM Grosvenor during the third quarter valued at $424,000. Finally, PDT Partners LLC acquired a new stake in shares of GCM Grosvenor during the 3rd quarter valued at about $449,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

About GCM Grosvenor

(Get Free Report)

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.

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