GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Up 6.7% in January

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,900,000 shares, an increase of 6.7% from the December 31st total of 5,530,000 shares. Based on an average daily volume of 274,700 shares, the days-to-cover ratio is presently 21.5 days. Approximately 13.6% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GCMG. Geode Capital Management LLC boosted its position in GCM Grosvenor by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after buying an additional 2,607 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of GCM Grosvenor by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares during the period. Rhumbline Advisers grew its stake in shares of GCM Grosvenor by 5.6% in the fourth quarter. Rhumbline Advisers now owns 58,462 shares of the company’s stock worth $717,000 after purchasing an additional 3,111 shares during the last quarter. SG Americas Securities LLC increased its holdings in GCM Grosvenor by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock valued at $248,000 after purchasing an additional 3,379 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its position in GCM Grosvenor by 3.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,617 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Oppenheimer lifted their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, UBS Group raised their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Trading Down 0.7 %

GCMG stock opened at $13.42 on Tuesday. The company has a 50 day simple moving average of $12.65 and a 200 day simple moving average of $11.73. GCM Grosvenor has a 1 year low of $8.05 and a 1 year high of $13.67.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. The company had revenue of $122.93 million during the quarter, compared to the consensus estimate of $126.39 million. During the same period in the prior year, the business earned $0.14 earnings per share. Research analysts forecast that GCM Grosvenor will post 0.51 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

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.