TD Cowen Boosts GCM Grosvenor (NASDAQ:GCMG) Price Target to $11.50

GCM Grosvenor (NASDAQ:GCMG) had its price target lifted by TD Cowen from $11.00 to $11.50 in a research note released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research firms have also issued reports on GCMG. Oppenheimer decreased their price target on shares of GCM Grosvenor from $13.00 to $12.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. UBS Group boosted their target price on GCM Grosvenor from $9.00 to $9.50 and gave the stock a neutral rating in a research report on Friday, April 12th.

GCM Grosvenor Trading Down 3.3 %

GCMG stock traded down $0.33 during trading hours on Thursday, hitting $9.60. 370,283 shares of the stock traded hands, compared to its average volume of 120,731. The stock has a 50-day simple moving average of $9.25 and a 200 day simple moving average of $8.82. GCM Grosvenor has a one year low of $6.56 and a one year high of $10.20.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.08). The business had revenue of $116.56 million for the quarter, compared to the consensus estimate of $127.29 million. GCM Grosvenor had a net margin of 3.55% and a negative return on equity of 67.14%. On average, sell-side analysts expect that GCM Grosvenor will post 0.54 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.58%. The ex-dividend date is Monday, June 3rd. GCM Grosvenor’s payout ratio is -137.50%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. New York State Common Retirement Fund boosted its holdings in shares of GCM Grosvenor by 30.3% during the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after purchasing an additional 2,312 shares during the period. SG Americas Securities LLC acquired a new stake in shares of GCM Grosvenor during the 4th quarter valued at $109,000. Quadrature Capital Ltd purchased a new position in shares of GCM Grosvenor during the 4th quarter valued at $117,000. GSA Capital Partners LLP acquired a new position in shares of GCM Grosvenor in the first quarter worth $873,000. Finally, Blair William & Co. IL increased its stake in shares of GCM Grosvenor by 35.6% in the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock worth $1,589,000 after acquiring an additional 43,207 shares during the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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.