GCM Grosvenor (NASDAQ:GCMG) Posts Earnings Results, Beats Expectations By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) released its quarterly earnings data on Monday. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01, FiscalAI reports. GCM Grosvenor had a return on equity of 222.78% and a net margin of 9.05%.The firm had revenue of $134.34 million during the quarter, compared to analyst estimates of $131.21 million.

GCM Grosvenor Price Performance

Shares of NASDAQ GCMG opened at $13.58 on Monday. The firm has a fifty day simple moving average of $12.36 and a two-hundred day simple moving average of $11.36. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $14.38. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $2.74 billion, a PE ratio of 30.18 and a beta of 0.84.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its position in GCM Grosvenor by 65.5% during the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock valued at $53,000 after acquiring an additional 1,743 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of GCM Grosvenor by 44.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock valued at $52,000 after purchasing an additional 1,417 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of GCM Grosvenor by 308.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company’s stock valued at $67,000 after purchasing an additional 4,362 shares in the last quarter. Quarry LP bought a new stake in shares of GCM Grosvenor during the third quarter valued at approximately $71,000. Finally, Legal & General Group Plc grew its stake in GCM Grosvenor by 96.8% in the second quarter. Legal & General Group Plc now owns 8,638 shares of the company’s stock worth $100,000 after purchasing an additional 4,249 shares during the period. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Analysts Set New Price Targets

GCMG has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of GCM Grosvenor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. TD Cowen boosted their price objective on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Oppenheimer cut their target price on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Piper Sandler upped their price target on GCM Grosvenor from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.33.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.