GCM Grosvenor (NASDAQ:GCMG) Reaches New 52-Week High Following Analyst Upgrade

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $13.00 to $15.00. Piper Sandler currently has an overweight rating on the stock. GCM Grosvenor traded as high as $13.95 and last traded at $13.7460, with a volume of 308408 shares. The stock had previously closed at $13.68.

GCMG has been the subject of a number of other reports. TD Cowen boosted their price target on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of GCM Grosvenor in a research report on Wednesday. Finally, Oppenheimer raised their price target on GCM Grosvenor from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Hedge Funds Weigh In On GCM Grosvenor

A number of institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in GCM Grosvenor by 0.5% during the first quarter. Renaissance Technologies LLC now owns 243,700 shares of the company’s stock worth $2,388,000 after acquiring an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in GCM Grosvenor by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after acquiring an additional 1,412 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of GCM Grosvenor by 44.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after acquiring an additional 1,417 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in shares of GCM Grosvenor by 1.0% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 154,837 shares of the company’s stock worth $1,753,000 after buying an additional 1,573 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock valued at $53,000 after acquiring an additional 1,743 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Performance

The company has a market capitalization of $2.78 billion, a PE ratio of 30.56 and a beta of 0.83. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 2.97. The business’s fifty day moving average is $11.55 and its two-hundred day moving average is $11.17.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Thursday, May 7th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%.The business had revenue of $124.78 million during the quarter, compared to analyst estimates of $130.13 million. Equities research analysts predict that GCM Grosvenor Inc. will post 0.66 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a $0.12 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.48 annualized dividend and a yield of 3.5%. GCM Grosvenor’s dividend payout ratio (DPR) is presently 106.67%.

About GCM Grosvenor

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.