GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Significant Growth in Short Interest

GCM Grosvenor Inc. (NASDAQ:GCMG) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,900,000 shares, a growth of 6.7% from the December 15th total of 5,530,000 shares. Currently, 13.6% of the shares of the stock are short sold. Based on an average daily volume of 274,700 shares, the days-to-cover ratio is currently 21.5 days.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GCMG. UBS Group increased their price objective 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. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, Oppenheimer increased their target price on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.70.

GCM Grosvenor Trading Up 0.1 %

Shares of GCMG stock traded up $0.01 during trading on Monday, hitting $12.99. The company’s stock had a trading volume of 343,321 shares, compared to its average volume of 250,308. The business has a fifty day moving average of $12.32 and a 200-day moving average of $11.48. The company has a market cap of $2.46 billion, a PE ratio of -216.50 and a beta of 0.56. GCM Grosvenor has a 52 week low of $8.05 and a 52 week high of $13.09.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.39%. GCM Grosvenor’s dividend payout ratio is currently -733.33%.

Institutional Inflows and Outflows

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

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.