GCM Grosvenor (NASDAQ:GCMG) Issues Earnings Results, Beats Estimates By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) announced its quarterly earnings data on Monday. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01, FiscalAI reports. The firm had revenue of $145.55 million for the quarter, compared to the consensus estimate of $141.60 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG opened at $12.66 on Monday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 24.35 and a beta of 0.91. The business has a 50 day simple moving average of $12.87 and a 200 day simple moving average of $11.90. GCM Grosvenor has a 52 week low of $9.30 and a 52 week high of $14.87. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89.

Insider Buying and Selling

In related news, CFO Pamela Bentley sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $12.56, for a total transaction of $502,400.00. Following the transaction, the chief financial officer owned 24,397 shares of the company’s stock, valued at approximately $306,426.32. This trade represents a 62.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 24,963 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.15, for a total transaction of $328,263.45. Following the transaction, the insider directly owned 59,832 shares in the company, valued at approximately $786,790.80. The trade was a 29.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 90,000 shares of company stock worth $1,155,350 in the last 90 days. 70.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating for the company in a research report on Monday, October 19th. Wall Street Zen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Finally, Oppenheimer cut their price objective on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.62.

GCM Grosvenor Company Profile

GCM Grosvenor is an alternative asset management firm that provides investment solutions across private markets and hedge fund strategies. Its offerings include private equity, infrastructure, real estate and credit investments, as well as customized portfolios and multi-manager strategies.

The firm invests on behalf of institutional investors and other clients through primary investments, co-investments and secondary-market transactions. Its activities span global markets, with offices in North America, Europe and Asia.

Founded in 1971, the firm traces its roots to Grosvenor Capital Management.