Envestnet Asset Management Inc. Purchases 74,227 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Envestnet Asset Management Inc. lifted its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 308.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,267 shares of the company’s stock after purchasing an additional 74,227 shares during the period. Envestnet Asset Management Inc.’s holdings in GCM Grosvenor were worth $1,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC boosted its holdings in shares of GCM Grosvenor by 39.3% in the 4th quarter. Nuveen Asset Management LLC now owns 376,276 shares of the company’s stock worth $4,617,000 after buying an additional 106,180 shares during the last quarter. Rhumbline Advisers raised its position in GCM Grosvenor by 5.0% in the first quarter. Rhumbline Advisers now owns 61,392 shares of the company’s stock worth $812,000 after acquiring an additional 2,930 shares during the period. Fifth Third Bancorp boosted its stake in GCM Grosvenor by 100.3% in the first quarter. Fifth Third Bancorp now owns 32,455 shares of the company’s stock valued at $429,000 after acquiring an additional 16,253 shares during the last quarter. GAMMA Investing LLC grew its position in shares of GCM Grosvenor by 1,455.8% during the 1st quarter. GAMMA Investing LLC now owns 22,637 shares of the company’s stock valued at $299,000 after acquiring an additional 21,182 shares during the period. Finally, Barclays PLC increased its stake in shares of GCM Grosvenor by 24.6% during the 4th quarter. Barclays PLC now owns 141,859 shares of the company’s stock worth $1,740,000 after purchasing an additional 28,036 shares during the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GCMG has been the topic of several research analyst reports. Oppenheimer increased their price objective on GCM Grosvenor from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Piper Sandler dropped their price target on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

GCM Grosvenor Trading Down 1.0%

Shares of GCMG stock opened at $11.67 on Friday. The firm’s 50 day moving average is $11.96 and its 200 day moving average is $12.68. The stock has a market capitalization of $2.27 billion, a P/E ratio of 83.36 and a beta of 0.72. GCM Grosvenor Inc. has a 12 month low of $10.04 and a 12 month high of $14.48.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, June 6th. GCM Grosvenor’s payout ratio is presently 314.29%.

GCM Grosvenor 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.