Oppenheimer Boosts GCM Grosvenor (NASDAQ:GCMG) Price Target to $18.00

GCM Grosvenor (NASDAQ:GCMG) had its target price increased by investment analysts at Oppenheimer from $14.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 61.58% from the stock’s current price.

GCMG has been the topic of a number of other reports. TD Cowen lifted their target price on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Piper Sandler lifted their target price on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.60.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $11.14 on Wednesday. GCM Grosvenor has a 12 month low of $7.70 and a 12 month high of $11.60. The firm has a market capitalization of $2.10 billion, a PE ratio of -34.81 and a beta of 0.54. The business’s 50-day moving average is $11.00 and its two-hundred day moving average is $10.28.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. The business had revenue of $116.95 million for the quarter, compared to analyst estimates of $117.12 million. Equities analysts anticipate that GCM Grosvenor will post 0.5 EPS for the current year.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares in the company, valued at $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 77.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently bought and sold shares of GCMG. Quadrature Capital Ltd acquired a new position in shares of GCM Grosvenor during the fourth quarter worth approximately $117,000. Wasatch Advisors LP raised its holdings in GCM Grosvenor by 111.5% during the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares in the last quarter. GSA Capital Partners LLP bought a new stake in GCM Grosvenor during the first quarter worth approximately $873,000. Russell Investments Group Ltd. raised its holdings in GCM Grosvenor by 23.7% during the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in GCM Grosvenor by 35.6% during the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock worth $1,589,000 after purchasing an additional 43,207 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

About GCM Grosvenor

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.