JPMorgan Chase & Co. Buys 296,860 Shares of GCM Grosvenor Inc. $GCMG

JPMorgan Chase & Co. lifted its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 104.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 582,337 shares of the company’s stock after purchasing an additional 296,860 shares during the quarter. JPMorgan Chase & Co.’s holdings in GCM Grosvenor were worth $7,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. UBS Group AG grew its position in GCM Grosvenor by 438.3% during the 3rd quarter. UBS Group AG now owns 1,833,941 shares of the company’s stock valued at $22,136,000 after purchasing an additional 1,493,250 shares during the last quarter. Marshall Wace LLP increased its stake in GCM Grosvenor by 2,502.0% during the 2nd quarter. Marshall Wace LLP now owns 1,006,541 shares of the company’s stock valued at $11,636,000 after purchasing an additional 967,857 shares in the last quarter. Millennium Management LLC raised its holdings in GCM Grosvenor by 231.0% in the third quarter. Millennium Management LLC now owns 1,290,222 shares of the company’s stock worth $15,573,000 after buying an additional 900,458 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of GCM Grosvenor by 200.0% in the third quarter. Qube Research & Technologies Ltd now owns 706,848 shares of the company’s stock worth $8,532,000 after buying an additional 471,223 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of GCM Grosvenor by 3,351.9% in the third quarter. Victory Capital Management Inc. now owns 326,278 shares of the company’s stock worth $3,938,000 after buying an additional 316,826 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GCMG. Oppenheimer reiterated an “outperform” rating and set a $24.00 price target on shares of GCM Grosvenor in a report on Wednesday, February 11th. Weiss Ratings cut GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

GCM Grosvenor Price Performance

Shares of NASDAQ:GCMG opened at $9.68 on Tuesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.72 and a current ratio of 1.72. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 26.16 and a beta of 0.80. The business has a 50-day simple moving average of $11.01 and a two-hundred day simple moving average of $11.40. GCM Grosvenor Inc. has a fifty-two week low of $9.30 and a fifty-two week high of $13.40.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. GCM Grosvenor had a net margin of 8.14% and a return on equity of 2,505.59%. The firm had revenue of $177.10 million for the quarter, compared to the consensus estimate of $160.20 million. On average, analysts expect that GCM Grosvenor Inc. will post 0.64 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.12 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.48 annualized dividend and a yield of 5.0%. GCM Grosvenor’s dividend payout ratio (DPR) is currently 129.73%.

GCM Grosvenor Profile

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.