GCM Grosvenor (NASDAQ:GCMG) Stock Lifted to “Buy” by Wall Street Zen

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

A number of other equities analysts also recently weighed in on the company. Piper Sandler boosted their target price on GCM Grosvenor from $14.50 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 10th. JPMorgan Chase & Co. increased their price target on GCM Grosvenor from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Tuesday, November 10th. Oppenheimer dropped their price target on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of GCM Grosvenor in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.12.

GCM Grosvenor Stock Down 0.2%

Shares of GCMG traded down $0.03 during trading hours on Friday, reaching $13.50. 317,776 shares of the stock traded hands, compared to its average volume of 467,023. The company has a current ratio of 3.26, a quick ratio of 1.89 and a debt-to-equity ratio of 2.36. The stock has a fifty day simple moving average of $12.90 and a 200 day simple moving average of $11.96. GCM Grosvenor has a 52 week low of $9.30 and a 52 week high of $14.87. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 25.47 and a beta of 0.91.

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, topping the consensus estimate of $0.21 by $0.01. The business 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, equities analysts forecast that GCM Grosvenor will post 0.69 EPS for the current year.

GCM Grosvenor Announces Dividend

The firm also recently announced 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. This represents a $0.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, December 1st. GCM Grosvenor’s payout ratio is presently 90.57%.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, CFO Pamela L. Bentley sold 10,000 shares of GCM Grosvenor stock in a transaction dated 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 sale, the chief financial officer owned 14,397 shares of the company’s stock, valued at $182,553.96. The trade was a 40.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total value of $197,886.92. Following the completion of the transaction, the insider owned 44,795 shares of the company’s stock, valued at $589,502.20. The trade was a 25.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 institutional investors and hedge funds have recently bought and sold shares of GCMG. First Trust Advisors LP bought a new stake in GCM Grosvenor in the third quarter worth $3,494,000. Ieq Capital LLC grew its stake in shares of GCM Grosvenor by 36.4% during the third quarter. Ieq Capital LLC now owns 42,964 shares of the company’s stock valued at $554,000 after buying an additional 11,458 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of GCM Grosvenor by 20.9% during the third quarter. Russell Investments Group Ltd. now owns 329,696 shares of the company’s stock valued at $4,250,000 after buying an additional 57,040 shares during the last quarter. State of Wyoming increased its holdings in shares of GCM Grosvenor by 41.4% in the third quarter. State of Wyoming now owns 55,029 shares of the company’s stock worth $709,000 after buying an additional 16,114 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of GCM Grosvenor by 525.8% in the third quarter. Sterling Capital Management LLC now owns 1,965 shares of the company’s stock worth $25,000 after buying an additional 1,651 shares during the period. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Company Profile

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.