GCM Grosvenor (NASDAQ:GCMG) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) announced its quarterly earnings results on Monday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01, FiscalAI reports. The firm had revenue of $145.55 million for the quarter, compared to the consensus estimate of $141.60 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%.

GCM Grosvenor Price Performance

Shares of GCM Grosvenor stock opened at $12.66 on Monday. GCM Grosvenor has a one year low of $9.30 and a one year high of $14.87. The stock’s fifty day moving average is $12.87 and its 200 day moving average is $11.90. The stock has a market cap of $2.57 billion, a P/E ratio of 24.35 and a beta of 0.91. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, CFO Pamela L. Bentley sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $12.56, for a total value of $502,400.00. Following the completion of the sale, the chief financial officer owned 24,397 shares in the company, valued at $306,426.32. This represents a 62.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 24,963 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $13.15, for a total value of $328,263.45. Following the completion of the sale, the insider owned 59,832 shares of the company’s stock, valued at approximately $786,790.80. The trade was a 29.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 90,000 shares of company stock worth $1,155,350 over the last quarter. 70.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GCMG has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Oppenheimer decreased their target price on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Piper Sandler dropped their price target on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Finally, Wall Street Zen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.62.

About GCM Grosvenor

GCM Grosvenor is an alternative asset management firm that provides investment solutions across private markets and hedge fund strategies. Its offerings include private equity, infrastructure, real estate and credit investments, as well as customized portfolios and multi-manager strategies.

The firm invests on behalf of institutional investors and other clients through primary investments, co-investments and secondary-market transactions. Its activities span global markets, with offices in North America, Europe and Asia.

Founded in 1971, the firm traces its roots to Grosvenor Capital Management.