GCM Grosvenor Inc. (NASDAQ:GCMG) Insider Sells $53,650.00 in Stock

GCM Grosvenor Inc. (NASDAQ:GCMG) insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

GCM Grosvenor Price Performance

NASDAQ GCMG traded up $0.01 on Tuesday, hitting $10.70. 123,998 shares of the stock were exchanged, compared to its average volume of 174,567. The business’s fifty day moving average is $10.61 and its 200 day moving average is $9.84. GCM Grosvenor Inc. has a 52 week low of $7.47 and a 52 week high of $11.47. The company has a market capitalization of $2.02 billion, a PE ratio of -33.41 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share 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. Analysts predict that GCM Grosvenor Inc. will post 0.5 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, September 3rd. GCM Grosvenor’s payout ratio is -137.50%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd boosted its holdings in shares of GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after acquiring an additional 1,364 shares during the period. Rhumbline Advisers boosted its stake in GCM Grosvenor by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after purchasing an additional 1,402 shares during the period. New York State Common Retirement Fund grew its holdings in 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 valued at $89,000 after buying an additional 2,312 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 buying an additional 2,341 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of GCM Grosvenor during the first quarter worth $95,000. 99.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GCMG has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Monday, May 20th. TD Cowen boosted their price target on shares of GCM Grosvenor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer reduced their price objective on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.60.

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.