GCM Grosvenor Inc. (GCMG) to Issue Dividend of $0.12 on December 15th

GCM Grosvenor Inc. (NASDAQ:GCMG) announced a dividend on Tuesday, October 14th, NASDAQ Dividends reports. Investors of record on Monday, December 1st will be given a dividend of 0.12 per share on Monday, December 15th. The ex-dividend date is Monday, December 1st.

GCM Grosvenor has a payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect GCM Grosvenor to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 64.0%.

GCM Grosvenor Price Performance

NASDAQ:GCMG traded up $0.08 during mid-day trading on Friday, hitting $10.98. 422,227 shares of the stock traded hands, compared to its average volume of 984,051. The business’s 50-day moving average price is $11.59 and its 200 day moving average price is $12.07. The company has a market cap of $2.13 billion, a PE ratio of 39.20 and a beta of 0.75. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 112.30. GCM Grosvenor has a 12-month low of $10.23 and a 12-month high of $14.48.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $126.70 million. On average, analysts expect that GCM Grosvenor will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On GCM Grosvenor

Hedge funds have recently made changes to their positions in the company. Penn Capital Management Company LLC raised its stake in GCM Grosvenor by 1.0% during the third quarter. Penn Capital Management Company LLC now owns 683,929 shares of the company’s stock valued at $8,264,000 after purchasing an additional 7,032 shares in the last quarter. Caxton Associates LLP bought a new position in GCM Grosvenor during the third quarter valued at $164,000. PharVision Advisers LLC purchased a new stake in GCM Grosvenor in the 3rd quarter worth about $437,000. Verition Fund Management LLC grew its stake in shares of GCM Grosvenor by 82.0% during the third quarter. Verition Fund Management LLC now owns 179,568 shares of the company’s stock valued at $2,167,000 after buying an additional 80,916 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in GCM Grosvenor during the 3rd quarter valued at $128,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

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.