Oppenheimer Cuts GCM Grosvenor (NASDAQ:GCMG) Price Target to $17.00

GCM Grosvenor (NASDAQ:GCMG) had its target price trimmed by Oppenheimer from $18.00 to $17.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

GCMG has been the topic of several other research reports. TD Cowen boosted their target price on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Piper Sandler raised their price target on shares of GCM Grosvenor from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of GCM Grosvenor in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, GCM Grosvenor presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.33.

GCM Grosvenor Price Performance

GCMG stock opened at $12.90 on Friday. The stock has a 50-day moving average price of $11.78 and a two-hundred day moving average price of $11.24. GCM Grosvenor has a 1 year low of $9.30 and a 1 year high of $14.38. The stock has a market cap of $2.61 billion, a PE ratio of 28.67 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.

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

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. GCM Grosvenor’s payout ratio is 106.67%.

Institutional Investors Weigh In On GCM Grosvenor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its stake in shares of GCM Grosvenor by 44.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after buying an additional 1,417 shares in the last quarter. National Bank of Canada FI raised its position in GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after acquiring an additional 1,743 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in GCM Grosvenor by 308.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company’s stock valued at $67,000 after acquiring an additional 4,362 shares during the last quarter. Quarry LP bought a new position in shares of GCM Grosvenor in the 3rd quarter valued at about $71,000. Finally, CWM LLC grew its position in shares of GCM Grosvenor by 104.8% in the 4th quarter. CWM LLC now owns 8,601 shares of the company’s stock valued at $97,000 after acquiring an additional 4,402 shares during the period. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Company 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.