GCM Grosvenor (NASDAQ:GCMG) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of GCM Grosvenor (NASDAQ:GCMG) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Oppenheimer dropped their price objective on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Piper Sandler upped their price target on shares of GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

GCM Grosvenor Trading Up 1.8%

Shares of NASDAQ:GCMG opened at $13.20 on Friday. The company’s 50-day moving average price is $13.29 and its two-hundred day moving average price is $12.02. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. GCM Grosvenor has a one year low of $9.30 and a one year high of $14.87. The stock has a market capitalization of $2.68 billion, a PE ratio of 25.39 and a beta of 0.87.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data 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 company had revenue of $134.34 million during the quarter, compared to analysts’ expectations of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. On average, equities analysts forecast that GCM Grosvenor will post 0.70 EPS for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, September 1st. GCM Grosvenor’s payout ratio is currently 92.31%.

Insider Buying and Selling at GCM Grosvenor

In other news, CFO Pamela L. Bentley sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $12.68, for a total transaction of $126,800.00. Following the completion of the transaction, the chief financial officer owned 14,397 shares of the company’s stock, valued at approximately $182,553.96. The trade was a 40.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 15,037 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total value of $197,886.92. Following the transaction, the insider directly owned 44,795 shares of the company’s stock, valued at $589,502.20. This trade represents a 25.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,000 shares of company stock valued at $1,155,350 over the last 90 days. Corporate insiders own 70.70% of the company’s stock.

Institutional Trading of GCM Grosvenor

Several large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in GCM Grosvenor during the 2nd quarter worth approximately $4,226,000. Dimensional Fund Advisors LP raised its stake in shares of GCM Grosvenor by 17.4% during the first quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company’s stock valued at $8,070,000 after acquiring an additional 122,110 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of GCM Grosvenor by 41.3% during the first quarter. North Star Investment Management Corp. now owns 297,518 shares of the company’s stock valued at $2,916,000 after acquiring an additional 87,000 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of GCM Grosvenor during the second quarter worth $1,390,000. Finally, Jennison Associates LLC lifted its holdings in shares of GCM Grosvenor by 49.7% during 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 during the period. 99.95% of the stock is owned by institutional investors and hedge funds.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that provides investment solutions for institutional investors, family offices, financial intermediaries and other qualified investors. The company manages portfolios across private equity, infrastructure, real estate, absolute return strategies and other alternative investments.

Its offerings include customized multi-strategy portfolios, direct and secondary investments, co-investments and specialized strategies designed to provide access to private markets and alternative sources of return.