GCM Grosvenor (NASDAQ:GCMG) Sees Large Volume Increase

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) saw strong trading volume on Monday . 109,985 shares changed hands during trading, a decline of 38% from the previous session’s volume of 176,512 shares.The stock last traded at $10.93 and had previously closed at $10.87.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GCMG. Oppenheimer dropped their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, August 9th. TD Cowen increased their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on 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, Piper Sandler raised their price target on GCM Grosvenor from $10.00 to $10.50 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.60.

GCM Grosvenor Stock Performance

The company has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $9.70. The firm has a market capitalization of $2.05 billion, a P/E ratio of -34.00 and a beta of 0.54.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.44 annualized dividend and a dividend yield of 4.04%. GCM Grosvenor’s dividend payout ratio is presently -137.50%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. New York State Common Retirement Fund grew its holdings in GCM Grosvenor by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock worth $89,000 after purchasing an additional 2,312 shares during the period. Russell Investments Group Ltd. grew its stake in shares of GCM Grosvenor by 65.0% in the 4th quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock worth $4,934,000 after buying an additional 216,964 shares during the last quarter. Quadrature Capital Ltd bought a new position in GCM Grosvenor during the 4th quarter valued at approximately $117,000. Wasatch Advisors LP increased its position in GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock valued at $22,625,000 after buying an additional 1,234,505 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in GCM Grosvenor during the first quarter valued at $873,000. 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.