GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $12.00

GCM Grosvenor (NASDAQ:GCMG) had its target price increased by UBS Group from $9.50 to $12.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 4.17% from the company’s previous close.

A number of other analysts also recently commented on the company. TD Cowen boosted 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. Piper Sandler boosted their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lowered 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 note on Monday, August 12th. Finally, Oppenheimer lifted their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.10.

GCM Grosvenor Trading Down 1.7 %

Shares of GCMG traded down $0.20 during trading hours on Tuesday, reaching $11.52. The company had a trading volume of 77,438 shares, compared to its average volume of 174,838. GCM Grosvenor has a 12-month low of $7.70 and a 12-month high of $11.78. The firm has a 50 day simple moving average of $11.10 and a 200-day simple moving average of $10.34. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -36.00 and a beta of 0.54.

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

Insider Transactions at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction 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 approximately $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

A number of hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new position in shares of GCM Grosvenor in the 3rd quarter worth $58,000. SG Americas Securities LLC acquired a new stake in GCM Grosvenor during the third quarter worth about $191,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of GCM Grosvenor in the 2nd quarter worth about $157,000. Millennium Management LLC lifted its stake in shares of GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after purchasing an additional 263,064 shares in the last quarter. Finally, Ariel Investments LLC grew its holdings in shares of GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after purchasing an additional 66,016 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.