GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High at $9.71

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price reached a new 52-week high on Friday . The company traded as high as $9.71 and last traded at $9.63, with a volume of 4622 shares. The stock had previously closed at $9.62.

Wall Street Analysts Forecast Growth

GCMG has been the topic of several research reports. UBS Group increased their target price on GCM Grosvenor from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Oppenheimer dropped their target price on GCM Grosvenor from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, TD Cowen raised GCM Grosvenor from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $9.50 to $10.00 in a report on Friday, February 16th.

GCM Grosvenor Price Performance

The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -33.14 and a beta of 0.51. The firm’s 50 day moving average price is $9.09 and its two-hundred day moving average price is $8.73.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Tuesday, February 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.08). GCM Grosvenor had a net margin of 2.87% and a negative return on equity of 76.61%. The company had revenue of $116.56 million during the quarter, compared to analysts’ expectations of $127.29 million. On average, analysts anticipate that GCM Grosvenor Inc. will post 0.54 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a yield of 4.55%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -151.72%.

Hedge Funds Weigh In On GCM Grosvenor

A number of hedge funds have recently made changes to their positions in GCMG. New York State Common Retirement Fund boosted its holdings in shares of 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 purchasing an additional 2,312 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of GCM Grosvenor in the 4th quarter valued at $109,000. Quadrature Capital Ltd acquired a new position in shares of GCM Grosvenor in the 4th quarter valued at $117,000. GSA Capital Partners LLP acquired a new position in shares of GCM Grosvenor in the 1st quarter valued at $873,000. Finally, Russell Investments Group Ltd. boosted its holdings 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 valued at $4,934,000 after purchasing an additional 216,964 shares during the last quarter. Institutional investors and hedge funds 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.