GCM Grosvenor (NASDAQ:GCMG) Rating Increased 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 report released on Saturday.

A number of other analysts also recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of GCM Grosvenor in a report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GCM Grosvenor in a research report on Thursday. Finally, Piper Sandler lowered their price target on GCM Grosvenor from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.67.

GCM Grosvenor Price Performance

GCM Grosvenor stock opened at $11.50 on Friday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 41.07 and a beta of 0.75. The stock has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $12.18. GCM Grosvenor has a 12 month low of $11.30 and a 12 month high of $14.48. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 112.30.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. GCM Grosvenor had a negative return on equity of 246.80% and a net margin of 6.23%.The firm had revenue of $134.97 million for the quarter, compared to the consensus estimate of $126.70 million. Equities analysts predict that GCM Grosvenor will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, December 1st. GCM Grosvenor’s dividend payout ratio is currently 171.43%.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds have recently modified their holdings of GCMG. Envestnet Asset Management Inc. raised its holdings in GCM Grosvenor by 308.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 98,267 shares of the company’s stock worth $1,300,000 after purchasing an additional 74,227 shares during the period. New York State Common Retirement Fund raised its stake in shares of GCM Grosvenor by 4,385.3% in the first quarter. New York State Common Retirement Fund now owns 352,497 shares of the company’s stock worth $4,664,000 after buying an additional 344,638 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of GCM Grosvenor by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,326,682 shares of the company’s stock valued at $30,782,000 after buying an additional 8,364 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of GCM Grosvenor during the 1st quarter valued at approximately $1,371,000. Finally, Navellier & Associates Inc. purchased a new stake in GCM Grosvenor in the 1st quarter worth approximately $377,000. Institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

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.