GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High – Here’s Why

GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high on Wednesday . The stock traded as high as $12.97 and last traded at $12.86, with a volume of 224532 shares. The stock had previously closed at $12.76.

Analyst Ratings Changes

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

GCM Grosvenor Price Performance

The firm has a market capitalization of $2.45 billion, a PE ratio of -216.33 and a beta of 0.56. The company has a fifty day moving average of $12.29 and a 200-day moving average of $11.42.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in GCM Grosvenor by 2.4% during the second quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after acquiring an additional 1,402 shares in the last quarter. Renaissance Technologies LLC grew its position in GCM Grosvenor by 9.9% in the second quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after acquiring an additional 43,600 shares in the last quarter. Blair William & Co. IL increased its stake in shares of GCM Grosvenor by 14.4% during the 2nd quarter. Blair William & Co. IL now owns 188,077 shares of the company’s stock worth $1,836,000 after purchasing an additional 23,635 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of GCM Grosvenor by 374.3% during the 2nd quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock valued at $892,000 after purchasing an additional 72,160 shares in the last quarter. Finally, Ariel Investments LLC lifted its stake in shares of GCM Grosvenor by 1.5% in the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after purchasing an additional 66,016 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

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.