GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Large Growth in Short Interest

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 3,050,000 shares, a growth of 15.5% from the July 15th total of 2,640,000 shares. Based on an average daily volume of 187,100 shares, the short-interest ratio is currently 16.3 days. Currently, 7.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

GCMG has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Piper Sandler raised their price target on shares of GCM Grosvenor from $10.00 to $10.50 and gave the stock a “neutral” rating in a report on Monday, May 20th. Oppenheimer decreased their price target on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.60.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG remained flat at $10.89 during mid-day trading on Friday. 113,759 shares of the stock were exchanged, compared to its average volume of 178,903. The business has a fifty day moving average of $10.25 and a 200-day moving average of $9.59. The company has a market capitalization of $2.05 billion, a PE ratio of -34.03 and a beta of 0.54. GCM Grosvenor has a 52-week low of $7.47 and a 52-week high of $11.47.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, September 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Institutional Trading of GCM Grosvenor

Institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in GCM Grosvenor during the first quarter worth $873,000. Russell Investments Group Ltd. grew its stake in shares of GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after acquiring an additional 130,547 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of GCM Grosvenor by 111.5% in the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock valued at $22,625,000 after purchasing an additional 1,234,505 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of GCM Grosvenor by 30.3% during the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock valued at $89,000 after purchasing an additional 2,312 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of GCM Grosvenor by 35.6% during the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock valued at $1,589,000 after purchasing an additional 43,207 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

GCM Grosvenor Company Profile

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.