GCM Grosvenor (NASDAQ:GCMG) Sets New 12-Month High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during trading on Monday . The company traded as high as $14.44 and last traded at $13.97, with a volume of 97989 shares trading hands. The stock had previously closed at $13.56.

Analysts Set New Price Targets

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

GCM Grosvenor Stock Performance

The company’s 50 day moving average price is $12.80 and its 200 day moving average price is $11.85. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -228.67 and a beta of 0.56.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. As a group, analysts predict that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, March 3rd. GCM Grosvenor’s payout ratio is currently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently bought and sold shares of GCMG. Bamco Inc. NY acquired a new position in GCM Grosvenor in the third quarter worth $19,810,000. American Century Companies Inc. acquired a new position in GCM Grosvenor during the 4th quarter worth about $1,437,000. Massachusetts Financial Services Co. MA lifted its position in GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after buying an additional 87,010 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in GCM Grosvenor by 232.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock worth $1,143,000 after acquiring an additional 70,565 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in GCM Grosvenor by 86,424.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock valued at $733,000 after acquiring an additional 59,633 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

About GCM Grosvenor

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.