GCM Grosvenor (NASDAQ:GCMG) Reaches New 52-Week High – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.09 and last traded at $13.19, with a volume of 343321 shares trading hands. The stock had previously closed at $12.98.

Analyst Ratings Changes

GCMG has been the topic of several recent analyst reports. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Oppenheimer increased their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.50 to $14.00 in a research report on Monday, December 23rd. Finally, UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Stock Performance

The company has a market capitalization of $2.50 billion, a P/E ratio of -219.90 and a beta of 0.56. The stock has a 50 day moving average price of $12.35 and a 200 day moving average price of $11.50.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s payout ratio is currently -733.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bamco Inc. NY purchased a new position in GCM Grosvenor during the third quarter valued at $19,810,000. Millennium Management LLC boosted its stake in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after acquiring an additional 263,064 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of 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 worth $28,141,000 after purchasing an additional 87,010 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of GCM Grosvenor by 374.3% in the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock worth $892,000 after acquiring an additional 72,160 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of GCM Grosvenor by 232.0% during the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock valued at $1,143,000 after acquiring an additional 70,565 shares in the last quarter. 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.