GCM Grosvenor (NASDAQ:GCMG) Rating Lowered to Hold at Wall Street Zen

GCM Grosvenor (NASDAQ:GCMG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also commented on GCMG. Piper Sandler increased their price target on shares of GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. TD Cowen lifted their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Oppenheimer reduced their target price on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. increased their target price on GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, GCM Grosvenor presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

GCM Grosvenor Price Performance

GCM Grosvenor stock opened at $13.14 on Friday. GCM Grosvenor has a 52 week low of $9.30 and a 52 week high of $14.87. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.96. The firm’s 50-day simple moving average is $13.20 and its 200 day simple moving average is $11.79. The firm has a market capitalization of $2.66 billion, a PE ratio of 25.27 and a beta of 0.83.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $134.34 million during the quarter, compared to the consensus estimate of $131.21 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. On average, equities research analysts predict that GCM Grosvenor will post 0.7 EPS for the current fiscal year.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Sullivan sold 24,963 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.15, for a total transaction of $328,263.45. Following the sale, the insider owned 59,832 shares in the company, valued at approximately $786,790.80. This trade represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Pamela Bentley sold 40,000 shares of GCM Grosvenor stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $12.56, for a total transaction of $502,400.00. Following the completion of the sale, the chief financial officer directly owned 24,397 shares of the company’s stock, valued at $306,426.32. The trade was a 62.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,000 shares of company stock worth $1,155,350 in the last three months. Insiders own 70.70% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently made changes to their positions in GCMG. Dimensional Fund Advisors LP lifted its position in GCM Grosvenor by 17.4% during the first quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company’s stock worth $8,070,000 after buying an additional 122,110 shares during the period. North Reef Capital Management LP grew its position in GCM Grosvenor by 4.8% during the first quarter. North Reef Capital Management LP now owns 630,179 shares of the company’s stock valued at $6,176,000 after acquiring an additional 28,824 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in GCM Grosvenor by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 459,360 shares of the company’s stock worth $4,502,000 after acquiring an additional 38,338 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of GCM Grosvenor by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 348,522 shares of the company’s stock worth $3,416,000 after purchasing an additional 20,682 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in shares of GCM Grosvenor by 41.3% in the 1st quarter. North Star Investment Management Corp. now owns 297,518 shares of the company’s stock worth $2,916,000 after purchasing an additional 87,000 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate and absolute return strategies. The company invests through a range of approaches, including primary fund investments, secondary transactions, direct investments and co-investments.

Founded in 1997, GCM Grosvenor serves institutional investors, including pension funds, endowments, foundations, sovereign wealth funds and insurance companies, as well as family offices and wealth management platforms.