GCM Grosvenor (NASDAQ:GCMG) Given New $11.50 Price Target at Piper Sandler

GCM Grosvenor (NASDAQ:GCMG) had its price target upped by Piper Sandler from $10.50 to $11.50 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about 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. JPMorgan Chase & Co. cut 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. Finally, Oppenheimer lowered their price target on GCM Grosvenor from $15.00 to $14.00 and set an outperform rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, GCM Grosvenor has a consensus rating of Hold and a consensus price target of $11.80.

GCM Grosvenor Stock Up 0.2 %

Shares of GCM Grosvenor stock opened at $11.22 on Wednesday. The stock’s fifty day moving average is $10.97 and its 200-day moving average is $10.25. The firm has a market capitalization of $2.12 billion, a PE ratio of -224.40 and a beta of 0.54. GCM Grosvenor has a 12-month low of $7.70 and a 12-month high of $11.60.

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

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.92%. GCM Grosvenor’s dividend payout ratio is -880.00%.

Insider Activity

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the transaction, the insider now owns 47,307 shares in the company, valued at $507,604.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 77.30% of the stock is currently owned by corporate insiders.

Institutional Trading of GCM Grosvenor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ariel Investments LLC lifted its position in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after purchasing an additional 37,852 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after purchasing an additional 1,234,505 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after purchasing an additional 130,547 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of GCM Grosvenor by 9.9% during the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after purchasing an additional 43,600 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.