GCM Grosvenor (NASDAQ:GCMG) Upgraded 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 morning,Wall Street Zen reports.

Several other analysts also recently commented on GCMG. TD Cowen increased their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. 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 report on Friday, July 17th. Piper Sandler upped their price target on GCM Grosvenor from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, GCM Grosvenor presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

GCM Grosvenor Trading Up 0.5%

NASDAQ:GCMG opened at $13.79 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a 50-day moving average of $13.16 and a 200-day moving average of $11.66. The company has a market cap of $2.80 billion, a PE ratio of 26.52 and a beta of 0.84. GCM Grosvenor has a one year low of $9.30 and a one year high of $14.87.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $134.34 million for the quarter, compared to analysts’ expectations of $131.21 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. As a group, equities research analysts expect that GCM Grosvenor will post 0.7 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 1st. GCM Grosvenor’s dividend payout ratio is presently 92.31%.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently modified their holdings of GCMG. Ameriprise Financial Inc. boosted its stake in shares of GCM Grosvenor by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,060,384 shares of the company’s stock worth $70,058,000 after buying an additional 166,578 shares during the last quarter. Vanguard Group Inc. increased its position in shares of GCM Grosvenor by 2.5% during the third quarter. Vanguard Group Inc. now owns 4,755,329 shares of the company’s stock valued at $57,397,000 after acquiring an additional 114,983 shares during the last quarter. UBS Group AG lifted its holdings in GCM Grosvenor by 438.3% during the third quarter. UBS Group AG now owns 1,833,941 shares of the company’s stock worth $22,136,000 after acquiring an additional 1,493,250 shares during the period. State Street Corp lifted its holdings in GCM Grosvenor by 18.3% during the fourth quarter. State Street Corp now owns 1,649,438 shares of the company’s stock worth $18,672,000 after acquiring an additional 254,642 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in GCM Grosvenor by 145.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,529,439 shares of the company’s stock worth $17,313,000 after purchasing an additional 906,608 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

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.