GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Down 5.3% in June

GCM Grosvenor Inc. (NASDAQ:GCMG) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 2,480,000 shares, a decrease of 5.3% from the May 31st total of 2,620,000 shares. Based on an average daily trading volume, of 153,200 shares, the short-interest ratio is currently 16.2 days. Currently, 5.8% of the shares of the company are sold short.

GCM Grosvenor Trading Down 1.1 %

GCM Grosvenor stock traded down $0.11 during mid-day trading on Wednesday, hitting $9.79. The company had a trading volume of 42,642 shares, compared to its average volume of 170,452. GCM Grosvenor has a 12-month low of $7.25 and a 12-month high of $10.20. The company’s fifty day moving average is $9.76 and its 200-day moving average is $9.18. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -30.59 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). GCM Grosvenor had a negative return on equity of 67.14% and a net margin of 3.55%. The company had revenue of $108.87 million during the quarter, compared to analysts’ expectations of $114.23 million. As a group, sell-side analysts expect that GCM Grosvenor will post 0.52 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.11 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.49%. GCM Grosvenor’s dividend payout ratio (DPR) is -137.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in shares of GCM Grosvenor by 30.3% in the 4th quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after acquiring an additional 2,312 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of GCM Grosvenor during the 1st quarter worth about $95,000. SG Americas Securities LLC acquired a new stake in shares of GCM Grosvenor during the 4th quarter worth about $109,000. Price T Rowe Associates Inc. MD increased its position in shares of GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of GCM Grosvenor during the 4th quarter worth about $117,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. TD Cowen upped their target price on GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a research report on Thursday, May 9th. Piper Sandler upped their target price on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, UBS Group upped their target price on GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research report on Friday, April 12th.

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.