GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $14.50

GCM Grosvenor (NASDAQ:GCMG) had its price target lifted by JPMorgan Chase & Co. from $13.00 to $14.50 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings upgraded GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Oppenheimer reduced their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Piper Sandler upped their price objective on GCM Grosvenor from $14.50 to $15.00 and gave the company an “overweight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.12.

GCM Grosvenor Stock Performance

Shares of GCMG stock opened at $13.53 on Tuesday. GCM Grosvenor has a 52 week low of $9.30 and a 52 week high of $14.87. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 25.53 and a beta of 0.91. The company has a 50-day simple moving average of $12.90 and a 200 day simple moving average of $11.95. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.89 and a current ratio of 3.26.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Monday, November 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $145.55 million for the quarter, compared to analysts’ expectations of $141.60 million. GCM Grosvenor had a net margin of 7.95% and a return on equity of 106.70%. On average, sell-side analysts predict that GCM Grosvenor will post 0.69 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. GCM Grosvenor’s dividend payout ratio is currently 90.57%.

Insiders Place Their Bets

In other GCM Grosvenor news, CFO Pamela Bentley sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was 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 in the company, valued at $306,426.32. This trade represents a 62.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 GCM Grosvenor stock in a transaction 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 90,000 shares of company stock worth $1,155,350. Corporate insiders own 70.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GCMG. Bank of New York Mellon Corp bought a new stake in shares of GCM Grosvenor during the 2nd quarter valued at about $4,226,000. Dimensional Fund Advisors LP grew its stake in GCM Grosvenor by 17.4% during the first quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company’s stock worth $8,070,000 after purchasing an additional 122,110 shares during the period. Globeflex Capital L P acquired a new stake in GCM Grosvenor during the second quarter worth approximately $1,390,000. Jennison Associates LLC increased its holdings in GCM Grosvenor by 49.7% in the first quarter. Jennison Associates LLC now owns 127,482 shares of the company’s stock worth $1,249,000 after purchasing an additional 42,323 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in GCM Grosvenor by 18.8% in the first quarter. The Manufacturers Life Insurance Company now owns 280,406 shares of the company’s stock worth $2,748,000 after purchasing an additional 44,316 shares in the last quarter. Institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

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.