GCM Grosvenor (NASDAQ:GCMG) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts have also commented on the stock. Weiss Ratings raised shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Piper Sandler upped their price objective on shares of GCM Grosvenor from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. raised their target price on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer cut their target price on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, GCM Grosvenor currently has an average rating of “Moderate Buy” and an average target price of $15.00.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG opened at $13.04 on Friday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 25.08 and a beta of 0.83. The business’s 50-day simple moving average is $13.15 and its 200-day simple moving average is $11.85. GCM Grosvenor has a 52 week low of $9.30 and a 52 week high of $14.87.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $134.34 million for the quarter, compared to the consensus estimate of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. As a group, equities research analysts expect that GCM Grosvenor will post 0.7 earnings per share for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 1st. GCM Grosvenor’s payout ratio is currently 92.31%.

Insider Buying and Selling

In other news, CFO Pamela Bentley sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $12.56, for a total value of $502,400.00. Following the completion of the sale, the chief financial officer directly owned 24,397 shares of the company’s stock, valued at approximately $306,426.32. This represents a 62.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 24,963 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.15, for a total value of $328,263.45. Following the completion of the sale, the insider directly owned 59,832 shares of the company’s stock, valued at $786,790.80. This represents a 29.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 90,000 shares of company stock valued at $1,155,350. Corporate insiders own 70.70% of the company’s stock.

Institutional Trading of GCM Grosvenor

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in GCM Grosvenor in the 2nd quarter worth $35,000. Levin Capital Strategies L.P. acquired a new position in shares of GCM Grosvenor during the first quarter valued at about $98,000. QRG Capital Management Inc. bought a new stake in shares of GCM Grosvenor in the second quarter valued at about $129,000. Entropy Technologies LP bought a new stake in shares of GCM Grosvenor in the first quarter valued at about $127,000. Finally, Dearborn Partners LLC acquired a new stake in GCM Grosvenor during the second quarter worth about $168,000. 99.95% of the stock is owned by institutional investors.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate and absolute return strategies. The company invests through a range of approaches, including primary fund investments, secondary transactions, direct investments and co-investments.

Founded in 1997, GCM Grosvenor serves institutional investors, including pension funds, endowments, foundations, sovereign wealth funds and insurance companies, as well as family offices and wealth management platforms.