GCM Grosvenor (NASDAQ:GCMG) Sees Large Volume Increase – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) saw strong trading volume on Thursday . 454,878 shares were traded during mid-day trading, an increase of 146% from the previous session’s volume of 184,867 shares.The stock last traded at $12.37 and had previously closed at $12.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GCMG. Piper Sandler upped their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer increased their price target on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. UBS Group raised their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.80.

GCM Grosvenor Stock Down 1.5 %

The company’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $10.70.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Insider Activity at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 owns 47,307 shares in the company, valued at approximately $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Institutional Trading of GCM Grosvenor

Institutional investors and hedge funds have recently bought and sold shares of the business. Ariel Investments LLC lifted its position in GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after acquiring an additional 66,016 shares during the period. Vanguard Group Inc. raised its stake in shares of GCM Grosvenor by 0.9% during the first 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 holdings in shares of GCM Grosvenor by 0.9% during the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after purchasing an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA grew its position in GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after buying an additional 87,010 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in GCM Grosvenor in the 3rd quarter valued at $19,810,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.