Piper Sandler Boosts GCM Grosvenor (NASDAQ:GCMG) Price Target to $10.50

GCM Grosvenor (NASDAQ:GCMG) had its target price boosted by Piper Sandler from $10.00 to $10.50 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. TD Cowen lifted their target price on GCM Grosvenor from $11.00 to $11.50 and gave the company a buy rating in a research report on Thursday, May 9th. Oppenheimer cut their price objective on GCM Grosvenor from $13.00 to $12.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Finally, UBS Group raised their target price on shares of GCM Grosvenor from $9.00 to $9.50 and gave the stock a neutral rating in a research note on Friday, April 12th.

GCM Grosvenor Trading Down 1.6 %

Shares of NASDAQ GCMG opened at $9.89 on Monday. GCM Grosvenor has a 12-month low of $6.56 and a 12-month high of $10.20. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -30.91 and a beta of 0.51. The firm has a 50 day moving average of $9.45 and a 200 day moving average of $8.92.

GCM Grosvenor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 3rd. GCM Grosvenor’s dividend payout ratio is currently -137.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of GCM Grosvenor in the fourth quarter worth $109,000. New York State Common Retirement Fund increased 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 acquiring an additional 2,312 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in 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 acquiring an additional 216,964 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in GCM Grosvenor in the 4th quarter worth $117,000. Finally, Wasatch Advisors LP boosted its holdings 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 valued at $22,625,000 after purchasing an additional 1,234,505 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.

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.